TWE Twenty

    RNS Number : 6032Y
  Twenty PLC
  08 July 2008
   

                                                                                                                                            
8 July 2008

    TWENTY PLC
    (AIM: TWE)

    Trading Update

    The Board of Twenty plc ("Twenty" or the "Group"), the AIM quoted integrated marketing solutions provider, announces that for the
financial year ending 31 December 2008, it expects that results will be materially below market expectations. The expected outturn is
anticipated to be a small loss.

    The shortfall in profit can be attributed in part to a major customer going into administration owing the Group �229k which has
consequently been written off along with lost future revenues from the customer amounting to approximately �330k. In addition, the Group was
slower to convert prospective new business into actual customers during the first quarter leading to a variance of approximately �1m. Other
factors include additional financing costs of over �100k as a result of increased loss funding, and non-recurring restructuring costs of
approximately �66k, both of which had not been factored into previous forecasts. However, the situation is mitigated to some extent by the
Group having approximately �8m worth of new contracts which will generate revenue which will be included in the results for the second half
of the year and will underpin the Group's return to profit. All business units are now back in profit.

    Twenty has a commitment from its bank with regard to revised banking facilities which includes a one year capital holiday and an
increase of �750k on the Group's invoice discounting line to a total of �2.75m. 

    The Group expects to announce its interim results for the 6 months to 30 June 2008 in September. Twenty has largely completed its
restructuring and repositioning work and significant new contracts are being won. The Group is therefore confident about prospects for the
second half of 2008.



    Enquiries:

    Twenty Plc                                                                                                       Tel: 01908 829300 
    Ian Lancaster, Chief Executive
                            
    Daniel Stewart & Company plc                                                                 Tel: 020 7776 6550
    Lindsay Mair / Charlotte Stranner

    Bishopsgate Communications Ltd                                                          Tel: 020 7562 3350
    Maxine Barnes
    Nick Farmer
    twenty@bishopsgatecommunications.com


    NOTES 
    Twenty plc is the Aim quoted holding company for a newly established marketing services group being created by an experienced team.
    Twenty plc is dedicated to creating a marketing services group through customer and prospect data, with data intelligence at its heart. 
 

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