Microgen PLC
24 April 2001
24 April 2001
MICROGEN PLC
AGM Trading Update
Martyn Ratcliffe, Executive Chairman of Microgen plc, will provide the
following trading update at the Annual General Meeting to be held at 9.00am
this morning.
'Following the completion of the restructuring last year, the Group has
returned to operating profitability and continues to produce a positive
operating cash flow. In the first quarter of 2001, all businesses produced
positive profit contribution before Group overhead and goodwill amortisation.
* Microgen-Kaisha, the Group's consultancy division, has
continued its strong performance with excellent profitability.
* Microgen-Telesmart, the Group's payment solutions
business, acquired in August 2000, has produced a positive profit contribution
in the first quarter, confirming the successful turnaround.
* The Billing & Database Management division is also
operating profitably and in accordance with the Board's disciplined investment
program for this business. The B2B e-services sector continues to develop well
with 20 customers now live on e-billing and over 400 companies receiving
invoices, remittances and associated billing documentation via the Microgen
hosting infrastructure. The significant growth rates in e-billing
transactions experienced at the end of last year have continued into the first
quarter of 2001.
In summary, the Board are pleased with the start to the new financial year.'
Contact :
Martyn Ratcliffe, Executive Chairman 01753-847123
Mike Phillips, Group Finance Director
Steve Liebmann, Buchanan Communications 0207-466-5000
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