SIN Spectrum

    Loss of contract
             



Spectrum Interactive plc ("Spectrum" or "the Company")

Contract loss

Today, Spectrum Interactive plc (SIN:LN)  announces that it has  lost
its bid to  operate payphones at  BAA airports for  a further 5  year
term.  Spectrum has operated payphones at BAA since 1994 and recently
secured a  contract to  operate payphones  at Heathrow  Terminal  5.
Spectrum will continue its T5 payphone operation and its relationship
with BAA for internet desks  which has grown significantly in  recent
years.  Spectrum's annual turnover from payphones is expected to fall
by approximately 10% as a result  of the contract loss, although  the
Company  does   not   expect  profitability   to   be   significantly
diminished.

Mark Lewarne,  Spectrum Chief  Executive, commented  "Whilst being  a
disappointment to  lose this  bid, the  ongoing decline  in  payphone
revenue and the high cost of operating payphones on BAA airports  has
made this business harder  to sustain and  accordingly we expect  the
impact on profitability to be minimal.  In line with our strategy  we
will  continue  to  develop   our  growth  interactive  business   in
partnership  with  BAA   and  other  site   owners.   We  expect   to
substantially increase the  number of installed  internet desks  over
the next 12 months whilst further reducing our payphone estate."


Enquiries:

Spectrum Interactive plc
Daniel Gray, Head of Marketing & Product Innovation
+44 (0) 1442 205515
www.spectruminteractive.co.uk

Seymour Pierce Mark Percy
+44 (0) 20 7107 8000


About Spectrum Interactive plc

Spectrum provides internet desks, WiFi hotspots, payphones and  other
related services to site owners (predominately in the travel  sector)
across the UK.  The company is  a market leader  in the provision  of
public internet  desks in  the UK  with  a total  of 1,800  units  in
service (many  of  these operating  across  25 of  the  UK's  busiest
airports).

Spectrum is also  growing strongly  in the WiFi  market and  operates
around 1000 WiFi  hotspots, mostly in  hotels and airports.  Spectrum
also owns and manages around 5,000 UK payphones.

---END OF MESSAGE---


This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.

Spectrum Interactive (LSE:SIN)
Historical Stock Chart
From Oct 2024 to Nov 2024

Spectrum Interactive (LSE:SIN)
Historical Stock Chart
From Nov 2023 to Nov 2024