PHONELINK PLC
23 July 1999
PhoneLink plc
Annual General Meeting Statement
Proposed Trading Update for Release at the AGM
Since the year end we have seen a continuing improvement
in our markets but this has been gradual rather than
rapid. External factors such as the Year 2000 continue
to impact sales of new software products particularly in
our Customer Services and Database Management division.
This is occurring across the software industry as
businesses complete their Year 2000 compliance work and
then put their systems into quarantine with no new system
changes planned until after the millennium. The impact
of the Year 2000 on sales as the year progresses towards
the millennium is difficult to predict and this may
affect trading further in the period to December 1999.
The low oil price, which affected our major customers in
the corporate travel division last year, has now
recovered significantly and this division is once more
generating modest profits.
Since the year end PhoneLink's on-line services division
has made good progress in achieving sales of its
Electronic Commerce systems to SmithKline Beecham and the
Builders Merchants Federation. The division has also
expanded its software sales of Ticket Window
internationally. A dedicated international sales manager
has now been appointed to spearhead the effort to sell
Ticket Window and its derivatives overseas. The Tel-Me
TravelClub.Com which allows customers to browse and book
flights on the Internet and was launched in May 1999 is
gathering momentum rapidly. The number of visitors to
the site has built up to around 6,000 per day currently
and the proportion of visitors purchasing is increasing.
Overall the prospects for the businesses within the Group
remain positive although momentum is building more slowly
than expected in certain areas principally as a result of
external factors.
Net cash balances at the end of June were £2.0 million.
For further information, please contact:
PhoneLink plc
Graham Ramsey, Chief Executive 0151 608 0205
Richard Law, Finance Director
Ludgate Communications
Richard Hews 0171 253 2252
Victoria Martin
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