Pre-close Trading Update (9381X)
February 23 2012 - 2:00AM
UK Regulatory
TIDMTNG
RNS Number : 9381X
Tangent Communications PLC
23 February 2012
Tangent Communications plc
Pre-close trading update
Tangent Communications plc announces a trading update for the
year ending 29 February 2012.
2011-12 will see group trading in line with market expectations.
Tangent has increased the high quality revenues in the business as
margins rose from slightly lower (3%) revenues.
Tangent Snowball performed well throughout the year delivering
margins of 10% across the largest revenue segment in the group. New
business was especially strong including; Aston Martin, Carlsberg
(Global), Richemont and Tata. The income from new clients is made
up of web development (e-commerce) and CRM (loyalty), with only 3%
of revenues coming from print services. This trend is set for
2012-13, when further investment into the technology framework is
expected to enhance margins and generate new prospects.
Ravensworth's lacklustre estate agency revenues represent a
diminishing proportion (now below 25%) of group revenues creating
spare capacity. This has been somewhat filled by the strong 100%
revenue growth from printed.com where customer numbers now exceed
5,000. Further investment is planned for 2012-13 to reach the
fuller potential of the online and on-demand print services.
Outlook
We are positive in our outlook for 2012-13 with adjusted
forecasts to the further anticipated (5%) reduction in estate
agency print revenues. All other revenue streams remain strong and
as awareness of Tangent Snowball and printed.com grows we expect to
attract like-minded people and businesses to increase the scale of
the group.
For further information, please contact:
Tangent Communications plc 020 7462 6100
Timothy Green, CEO
Collins Stewart Europe Limited 020 7523 8350
Jamie Adams / Matt Goode
This information is provided by RNS
The company news service from the London Stock Exchange
END
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