Manpower Software PLC
28 June 2006
MANPOWER SOFTWARE PLC
(the "Company")
TRADING UPDATE
The Directors of Manpower Software plc announce today that, following their
initial review of the results for the year ended 31 May 2006, turnover for the
year is likely to be about £4.3 million from which the Company will derive a
loss before tax expected to be in the range £1.7 million to £1.8 million. The
shortfall in turnover and the extent of the loss compared to both budget and
stock market expectations reflects delays in signing key contracts, each
containing a significant licence fee component. The Directors remain confident
that the Company will secure these contracts during the course of the current
financial year, the first of which is expected to be signed imminently.
The background to such delays was explained in the interim results announcement
on 28 February 2006. The Directors drew attention to the fact that, while the
Company is bearing the cost of investment in its key markets, it remains highly
dependent on a small number of large contracts in public sector markets where
considerable change is occurring, where the sales cycles are often long and
complex, and where forecasting precise timing of closure has become more
difficult. Deferral or acceleration of only a few of these can have a
significant impact on the Company's results.
The Directors are confident that the foundations put in place in 2005/6, coupled
with the significant potential opportunities in the three vertical markets
addressed by the Company, will result in a satisfactory outcome in 2006/7.
The Company's cash balances amounted to around £0.3 million as at 31 May 2006.
The Directors believe that, taking into account the Company's available
overdraft facility and cash due under contract, the Company continues to have
adequate resources for its present requirements.
Enquiries:
Manpower Software plc
Simon Thorne, Finance Director 020 7389 9500
Shore Capital
Alex Borrelli 020 7408 4090
28 June 2006
This information is provided by RNS
The company news service from the London Stock Exchange BAB
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.