Thomson Intermedia PLC
07 July 2006
7 July 2006
Thomson Intermedia - AGM Statement
At today's Annual General Meeting, Michael Higgins, the non-executive Chairman
of Thomson Intermedia plc (AIM: THN) will make the following statement:-
'The Group continues to make good progress, with trading in line with overall
expectations and a strong performance from billetts in the first quarter. The
billetts and Thomson Intermedia businesses have been fully integrated and the
impact of Group-wide business development and marketing is beginning to bear
fruit. We expect to pay out the maximum consideration for the first tranche of
the billetts earn-out. The Board is confident of achieving its overall targets
for the year.
'The Board has for some time been considering the most appropriate financial
year-end for the group. With a substantial part of the business based on annual
contracts and with the renewals of these heavily focused in the first months of
the year, a January year end creates unnecessary pressure on these commercial
negotiations. Accordingly it has been decided to change the year-end to 30
April with immediate effect. The performance of the business is already skewed
toward the second half and we expect this year-end change to increase slightly
this bias.
'The Group will announce interim figures for the six months to 31 July 2006 in
early October; we expect then to announce second interim figures for the twelve
months to 31 January in April 2007 with preliminary figures for the 15 months to
30 April 2007 planned for early July 2007. AGM's in future years are likely to
be in early September.
'All future results will be reported under International Financial Reporting
Standards ('IFRS'). A statement is planned for September on the impact of the
change to IFRS, but as stated by my predecessor, the adoption of IFRS is
expected to only have a material effect on Research and Development expenditure
and share options.'
Enquiries:
Thomson Intermedia
Sarah Jane Thomson, Joint Chief Executive 020 8466 2906
David Trendle, Finance Director
College Hill
Adrian Duffield/Ben Way 020 7457 2020
This information is provided by RNS
The company news service from the London Stock Exchange
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