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Home arrow Investor Relations arrow RNS Announcements arrow 2004 arrow Half-Year Results For the six months ended 30 September 2004
Half-Year Results For the six months ended 30 September 2004    13/12/04 Print E-mail
Half-year highlights:

•Turnover from continuing operations up 65% to £39.4m (H1 2003/4 - £23.9m)

•Adjusted PBT £0.2m including £0.5m for 3 months to 30 September (Loss before taxation £1.0m (H1 2003/4 – loss £1.3m))

•£0.8m improvement in EBITDA to £0.7m (H1 2003/4 – negative £0.5m)

•Speech turnover up 96% to £2.7m (H1 2003/4 - £1.4m)

•Cash and short term investment balances £9.1m (excludes £1.7m operating cash receipt on 1 October)


Current developments:

•Improved trading performance and cash generation

•New long term contract wins with O2 and Northern Ireland Electricity

•Further expansion in high margin activities planned for 2005

•Insolvency of Auctionworld and intense competition within IVR will impact H2


Martin Turner, Chief Executive Officer, commented today:

“These results for the first half of the financial year disguise a significant improvement in financial and operating performance since 1 July, with Eckoh generating over £546,000 of pre-tax profits (excluding intangible asset amortisation) in the second quarter.

Much of this improvement can be attributed to a refocusing of management effort on our higher margin activities, including a 96% increase in business from our Speech Solutions division, and ongoing efforts to lower our cost base.

While we expect to increase profitability in the second half of the financial year, intense competition within particular areas of our IVR business and the insolvency of Auctionworld will mean that we will not meet current market expectations for the full year.”
 
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