Screen PLC
30 January 2002
30 January 2002
SCREEN PLC: Trading Statement
Screen Plc ('Screen' or 'the Company'), a leading provider of advanced security
and communication systems, announces that it expects to achieve (subject to
audit) the following:
* Annual revenue in excess of £14m for year ended 31 December 2001
(2000: £5.1m)
* Second half revenue in excess of £8m (2000: £3.0m)
* Operating Profits (before goodwill amortisation and after exceptional
costs approximately of £70k) in excess of £1m (2000: Loss £302k)
While these estimates are below 2001 consensus market expectations they still
represent significant year on year growth. This shortfall is mainly accounted
for by anticipated contract decisions being deferred. Screen expects to announce
preliminary results, for the year ended 31 December 2001, at the end of April
2002. The second half of 2001 showed continued strong organic growth and
development from acquisitions.
Overall the Directors believe that significant progress has been achieved during
the past financial year. The main achievements have included:
* Senior Management was strengthened in August 2001 by the appointment of
Claes Bergstedt as Chief Executive, a new position.
* Three acquisitions (Civil Systems Division of BAE SYSTEMS Plc, Pentyre
Ltd and Joyce-Loebl Group Ltd) have strengthened and expanded the
Company's product offerings and channels to market.
* The most recent acquisition, Joyce-Loebl, allows Screen to enter new
growth markets; Transport and Defence.
* Mr Bergstedt has commenced a program to implement a new Group structure
to support the enlarged business, oversee the integration and ongoing
development of existing businesses and incorporate future acquisitions.
This initiative includes a new Management board, comprising of all
divisional managing directors.
* Increased International orders; entry into new geographical markets such
as Italy and China.
* New product development: Automatic Number Plate Recognition systems
adapted for the mobile environment; enhanced ruggedised mobile data
computers for in-vehicle installations.
* A well-defined outsourced manufacturing agreement has been put in place
for Screen's new hand-held ProGenie product.
The Directors are pleased by the Company's continuing order inflow and with the
strong position of having approximately two-thirds of the business in the public
sector, including emergency services and defence. For these reasons, prospects
remain encouraging and the business strategy has placed Screen in an excellent
position to continue its growth trend.
ENDS
Contacts:
Screen Plc Binns & Co PR Ltd
Claes Bergstedt - Chief Executive Peter Binns
James Shand - Finance Director Simon Ellis
On the day: 020 7786 9600 Paul McManus
Thereafter: 01628 820011 Tel: 020 7786 9600
info@screenplc.com
www.screenplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
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