AGM Statement
Screen PLC
18 June 2001
For release 10:05am
18 June 2001
SCREEN PLC
CHAIRMAN'S AGM STATEMENT
Screen plc ('Screen' or the 'Group'), the security and communications systems
provider, held its Annual General Meeting today at the offices of SG
Securities (London) Limited, its NOMAD and joint stockbroker, at 10:00am.
Prior to the meeting's formal business, Owen Williams, Chairman of Screen,
made the following statement to Shareholders:
O Group financial performance
'Since flotation in February 1997 the Company's share price has effectively
trebled, market capitalisation has increased six-fold and the net asset
position has improved from £1.7m to approximately £14m.
The Group expects to perform well this year. As previously reported, revenues
in the first quarter of the current year equalled those of the entire first
half of 2000. This positive trend is continuing.
O Petards Vision
This company continues to enjoy good order flow with revenues in the first
five months running 50% ahead of last year's record performance. Strong
continuing growth is being experienced from UK sales of the Swift rapid
deployment camera and work has started to expand the sales of this product
internationally.
Accelerated investment in product development and innovation has borne fruit
resulting in three new products being recently released - Cobyt Net; Swift
Dual; and Streetcam -
Cobyt Net, a Windows version of Cobyt the popular CCTV command and control
system with over 400 users across the UK, has already been well received.
Swift Dual is an addition to the original rapid deployment camera system now
in use with over 40 local authorities and police forces. This system provides
even greater flexibility separating the camera and transmission functions and
provides a range of digital and analogue transmission formats.
Streetcam, also from the Swift family of products, has been designed for use
in semi-covert operations, is fully redeployable and connects directly into
standard street lighting units.
Last week we announced the successful work that had been achieved for
Transport for London in integrating their traffic monitoring camera network
with four London Borough CCTV schemes. This technology gives an agency access
to many more cameras and brings operational efficiency benefits to CCTV users,
not just in London Boroughs but potentially all major cities in which multiple
CCTV systems are deployed.
O Petards Mobile Intelligence ('PMI')
Provida2000, the 'in car' video system, is winning increased business from
motorway police forces internationally. Approval for this system has been
issued by the Polizia Stradale in Italy. Other recent orders include one from
the Pakistani motorway police.
With these orders the Group is now represented in 46 countries.
In April 2001, we introduced an upgrade to our range in an innovative system
allowing car number plates to be read automatically from mobile vehicles such
as police patrol cars. Early sales of this system are in line with our
expectations, with recent UK orders from several police forces.
Full production of PMI's new product, ProGenie, the hand held device, is now
underway and excellent progress has been made in establishing a European
network of OEM distributors. Distributor appointments have been made in
France and Italy with a further 8 in the pipeline. Interest in this product
is substantial and our expectations of this product remain high.
O Petards Corporate Knowledge
Petards Corporate Knowledge has started the current financial year well and
its trading has been in line with internal forecasts. However new
opportunities are presenting themselves and earlier today Screen announced
that the company had gained two new contracts, the first worth up to £500,000
involves the company supplying its CRMSoft System to Jersey based Computer
Patent Annuities Limited Partnership ('CPA'). Petards Corporate Knowledge
will be working in conjunction with Perot Systems, the international IT
consultancy, to offer a global solution for CPA's marketing, sales and
delivery process. This new order is one of the largest to date secured by
Petards Corporate Knowledge.
The second, for an undisclosed sum, is with IT Direct in which Petards
Corporate Knowledge's CRMSoft system will be made available to all Lloyds of
London and Baltic Exchange members. Petards Corporate Knowledge will be one of
several key suppliers including Microsoft, Compaq and Citrix. The CRMSoft
system will be used in a variety of deployment options: office based client
server; mobile remote access; and ASP (Application Support Provider), or a
hybrid of all three.
O Petards Civil Systems
As previously announced, the Civil Systems arm of BAe Systems, acquired in
January 2001, has traded strongly since joining the Group. Having moved into
larger premises with improved facilities it has increased its capacity and has
already started delivering systems ordered recently for the refurbishment of
the flood damaged fire brigade mobilising system at East Sussex and on work to
upgrade the sensors in the Hatfield tunnels of the A1(M).
Coupled with extensions to maintaining fire brigade systems, orders taken this
year have so far exceeded £1.5m and this company's order book stands at a
record level of £5.7m with ongoing customer commitments stretching out until
2008.
Four months after acquiring this business it is fully integrated into the
Group and is contributing profits and a positive cash flow. It is now poised
to expand its products and those of other group companies into existing
markets and develop new business opportunities across a wide range of existing
and prospective customers.
O Prospects
The Group is now well positioned with attractive, relevant products and
services addressing real customer needs in multiple niche markets. These
products and services are generating good margins. Against this background,
the Directors continue to view the future prospects of the Group with
considerable confidence.'
ENDS
For further information:
Screen plc Binns & Co PR Ltd
Owen Williams Peter Binns
Chairman Paul McManus
Tel: 01628 820011 Simon Ellis
info@screenplc.com Tel: 020 7786 9600
Editor's Note
Screen is a group whose shares have been traded on AIM since February 1997 and
in the year ended 31 December 2000 the group generated revenues of £5.1m.
Screen provides a unique range of mobile communications and control solutions
through its four subsidiaries:
Petards Mobile Intelligence
Setting international standards for the development and support of integrated
solutions based on Mobile Data Terminals, In-Car Video and Automatic Number
Plate Recognition (ANPR) Systems.
Principal operations based in: Abingdon UK, and Copenhagen, Denmark
Formerly: Petards Datax and JAI ProVida.
Petards Corporate Knowledge
World-class software development of both fixed and mobile solutions for
Customer Relationship Management and the delivery of enterprise wide Corporate
Knowledge.
Principal operation based in: Camberley, UK.
Formerly: Tranzline.
Petards Civil Systems
Market leading developer and systems integrator of specialist software
solutions for Emergency Services MIS, Mobilisation, Command & Control, and
Environmental Monitoring.
Principal operation based in: Leicester, UK.
Formerly: Civil Systems Division of BAe Systems plc.
Petards Vision
Acknowledged innovators in the design, manufacture and supply of advanced
security and surveillance solutions such as Control by Touch command & control
systems and rapid deployment wireless CCTV systems.
Principal operation based in: Sunbury, UK.
Formerly: Petards International.