Pre-close trading update (9313C)
March 15 2011 - 3:01AM
UK Regulatory
TIDMTNG
RNS Number : 9313C
Tangent Communications PLC
15 March 2011
Tangent Communications plc ("Tangent" or the "Group")
Pre-close Trading Update
Tangent Communications plc, the integrator of creative
technology and marketing strategy, provides an update on trading in
advance of its preliminary results announcement for the year ended
28(th) February 2011, which is expected to be published in May.
Tangent is pleased to announce that full year revenues, profits
and margin have increased significantly over the prior year, and
expects to report pre-tax profits before exceptional items ahead of
current expectations.
The second half of the 2010-11 financial year has progressed
satisfactorily with profits ahead of the same period in the prior
year, albeit not at the rate of the strong first half which
traditionally sees greater activity than in the second half.
The Group has provided in 2010-11 for an exceptional bad debt
experienced by the Melbourne office of over GBP100,000 as a result
of the entry into administration of Red Group Retail, which will
reduce reported profits by a similar amount. The Group will enter
into discussions with the administrator in order to try and recover
this amount.
Current trading in Ravensworth, Tangent's digital print centre,
continues to perform well with revenues from estate agents up over
10% year on year through January and February 2011. The direct and
digital marketing brands Snowball and Tangent One continue to
perform strongly. Key accounts continue to develop; expanding their
relationship with Tangent and using its broader offering across
data, software and services.
Significantly, we have launched our service for Carlsberg UK and
have been appointed to roll out across Carlsberg Europe with
planned installations for Denmark, Sweden and Switzerland in
2011.
The outlook for the business is positive although Tangent's
underlying markets remain dependent on the strength of the
underlying economic recovery.
For further information, please contact:
Tangent Communications plc
Timothy Green 020 7462 6100
Collins Stewart
Adrian Hadden / Stewart Wallace 020 7523 8350
About the Company:
Tangent is a leading integrator of technology and marketing
strategy. Taobase, our pioneering technology environment drives
creativity and strategy to be applied at scale across multiple
communications channels. This platform supports the Tangent
business through e-commerce, mrm (marketing resource management),
email, mobile and print.
Tangent employs 230 people across four locations in London,
Newcastle, Cheltenham and Melbourne and is traded on AIM (AIM:
TNG). For more information please visit www.tangentplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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