Pre-Close Trading Update

RNS Number : 8674Q

Clarity Commerce Solutions PLC

21 April 2009

 



CCS.L

Clarity Commerce Solutions plc

('Clarity'', the 'Company' or the 'Group')

Pre Close Trading Update

Clarity, a leading supplier of software solutions for the hospitality, retail, leisure and ticketing sectors, is pleased to make the following update on trading for the year ended 31 March 2009, prior to entering its close period.

Despite difficult market conditions the Directors are pleased to report that Clarity's full year results are expected to be slightly ahead of market expectations, representing a strong improvement on the previous year. 

Furthermore, the turnaround in trading performance has resulted in a welcome improvement in the Group's funding position, with the elimination of net debt and a return to net positive cash balances (excluding earn out consideration payable). This is despite substantial cash outflows settling old debts as well and other commitments. In the current economic climate, a very much improved cash position provides stability to the balance sheet and reflects the Company's focus on prudent cash management.

The Directors remain cautiously confident that the business is well-positioned for 2010 and beyond. This belief is centred around recent bid and contract activity, previously announced to the market, which has included the following :

• following a key order from Peel Hotels in late 2008, the Company's Hospitality Division has secured a further important order from Oxford Hotels and Inns for its 42 hotel estate, which will roll out Clarity's Phoenix solution over the next four months;

• in its Retail Division, following further business from Amsterdam Harbour and Flytoget, the European operation won additional significant orders from Schuitema, a large Dutch grocery chain, and Focus DIY for a Point Of Sale roll-out. The US operation saw three key wins for Matra's Freedom point of sale solution and associated products;

• Clarity's European Ticketing Division has recently taken two significant orders from EuroPalaces for further automated ticketing machines and a data warehouse solution; and

• the Group's Leisure Division has now released the first module of its new LeisureFlex.Net solution and this will be rolled out to 11 public sector sites in April. Leisureflex.Net is a new generation product with many advantages including improved functionality to Clarity's existing leisure product, state of the art flexibility and architecture, as well as an exciting user interface. 
  

Outlook

Market conditions are difficult for many of Clarity's customers and prospects, and sales cycles are undoubtedly longer. But, in order to compete in these difficult markets, our customers, actual and potential, will require the kind of solutions which Clarity has to offer. The Group's cross-sector approach enables Clarity to access different but related markets and the Directors are cautiously confident that the business is well-positioned for 2010 and beyond.

The Company expects to release its preliminary results for the 12 months ended 31 March 2009 on 22 June 2009.

Enquiries:

Clarity Commerce Solutions plc	Ken Smith	T:0870 44 44 234
Arbuthnot Securities	Alasdair Younie/Ben Wells	T: 020 7012 2000
Biddicks	Shane Dolan	T: 020 7448 1000

About Clarity Commerce Solutions

Clarity Commerce Solutions plc offers technology solutions which span all levels of consumer interaction, from simple ticketing through to highly complicated consumer behaviour tracking and loyalty programmes. Clarity Commerce Solutions plc has installations in over 7,000 sites across the world within all sub-segments of the retail, leisure and entertainment industries. It is our mission to help customers effectively compete, win and retain a loyal, profitable customer base. 

Established in 1993, Clarity is headquartered in Basingstoke, United Kingdom and has over 750 unique customers worldwide. Key sectors include Retail, Entertainment, Leisure, Hospitality, Accommodation, Food and Drink. 

www.claritycommerce.com

 

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