Clarity Commerce Solutions PLC
17 February 2003
Clarity Commerce Solutions plc
Trading Update
At the time of the announcement of its Interim Results the Board stated that
whilst the Company was operating in difficult market conditions they were
confident that projects undertaken by the Group in the second half of the year
would deliver a profit for the year before amortisation of goodwill in excess of
its last previous full year's results. The Board also stated that it anticipated
issuing a further trading update in early February 2003.
The Board is pleased to announce that significant progress has been made in the
second half and that the result for the year to march 2003 will show profits
before tax and amortisation in excess of that achieved in the previous financial
year, though below market expectations. Despite a difficult trading climate,
this demonstrates the underlying progress being made by the Group.
Whilst market conditions remain difficult, the Company continues to secure new
contracts for both Clarity Retail and Flex, some of which are being delivered
over a longer period than originally expected. Against this background the
Company has seen a steady reduction in overheads and has enjoyed an increase in
recurring maintenance revenues. The benefits of these are anticipated to
continue in the next financial year.
Following the successful acquisition and integration of Flex and Vision into the
Group last year, the Board is actively pursuing further acquisitions to enhance
its offerings and to increase the size of the group.
The Board continues to view the future with confidence. The results for the year
ending 31 March 2003 are expected to be announced in late May 2003.
This information is provided by RNS
The company news service from the London Stock Exchange
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