Trading Statement
November 19 2002 - 7:18AM
UK Regulatory
RNS Number:9915D
Total Systems PLC
19 November 2002
For Immediate Release 19 November 2002
Total Systems plc
Suppliers of established software products and services to the insurance and
warranty sectors of the financial services market
Trading Update
The first half of our financial year ended 30 September 2002 has been broadly in
line with the Board's expectations. With turnover of approximately #2 million
for this period, the Board expects that there will be sufficient profit and cash
flow to cover an interim dividend of 1p per share.
At the time of the Company's statement of results for the year ended 31 March
2002, it was anticipated in the Chairman's Statement that the second half of
this financial year would be stronger than the first half. Due to continuing
delays in the signing of significant new business, it is now unlikely that this
will be the case. Such delays make it extremely difficult to forecast
performance for the full year, but the Board now anticipates that the most
likely outcome will be a shortfall against current market expectations.
The Board takes comfort from the Company's strong cash balances and zero
gearing, which should enable the Company to take advantage of any improvement in
trading conditions when this occurs.
END
Total Systems plc will announce its Interim Results for the six months to 30th
September 2002 on Monday 16th December 2002.
There will be an analyst presentation at the offices of Binns & Co PR Ltd, 16 St
Helen's Place, London, EC3A 6DF.
e-mail: info@totalsystems.co.uk web site: http:// www.totalsystems.co.uk
Enquiries to:
Granville Harris, Finance Director Total Systems plc 020 7294 4888
Jacqui Graves Binns & Co PR Ltd. 020 7786 9600
This information is provided by RNS
The company news service from the London Stock Exchange
END
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