Sarantel Group PLC
20 July 2006
Embargoed until 7:00 20 July 2006
Sarantel Group PLC ('Sarantel')
Trading Update
Sarantel has been informed by its largest customer that take up of its satellite
radio product has been lower than anticipated. Consequently, their demand for
Sarantel's satellite radio antenna is now well below previous expectations.
However, Sarantel has received initial production orders for its new GPS antenna
from two major electronics companies. Sales of these antennas are unlikely to
materially impact the current financial year.
As a result, the Company will report revenues substantially below market
expectations for the full year to 30 September 2006.
The Company had cash of £6.8m as at 30 June 2006, of which approximately £1.3m
is committed to cover finance leases. The Board of Sarantel has resolved to
review its cost base and/or improve its cash position.
For further information please contact:
Sarantel Group PLC www.sarantel.com
David Wither, Chief Executive Officer 07974 352236
Geoff Shingles, Non-Executive Chairman 07802 186062
Smithfield 020 7360 4900
Sara Musgrave/Tania Wild
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This information is provided by RNS
The company news service from the London Stock Exchange
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