Trading Statement

RNS Number : 1030W

React Group PLC

10 November 2017

 

REACT GROUP PLC

10 November 2017

             Trading Statement

The Board of React Group PLC, the specialist provider of rapid response deep cleaning and emergency decontamination services, makes the following trading statement for the year ended 30 September 2017.

The unaudited numbers (based on management accounts) were very disappointing, with revenue of around £2.65m and a pre-tax loss of around £400,000.  This loss contains  circa £30,000 resulting from the closure of EPUK, which was announced in December 2016, and some other one-off other costs including those arising from the restructuring of the Board (see previous RNS notifications on 11 September, 18 September, 2 October and 27 October).

The Company's cash position at 30 September 2017 was £629,000.

Over the past few months the new management team has put in place a number of significant cost savings and better overall financial controls.  Trading in the second half has started to show signs of improvement and the new team is being invited to tender for more contracts than in the past. 

REACT Group plc

Gill Leates - Chairman                                                                                                                          07799 662642

SPARK Advisory Partners Limited (NOMAD)

Neil Baldwin                                                                                                                                            0113 370 8974

Mark Brady                                                                                                                                               0113 379 8971

Whitman Howard Limited (Broker)

Nick Lovering                                                                                                                                          0207 659 1224

 

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