Trading Update

RNS Number : 5124A

EXPANSYS plc

21 March 2013

 

Embargoed: 0700hrs 21 March 2013

EXPANSYS plc

("Expansys" or the "Company" or the "Group")

Trading Update

Expansys (AIM: XPS) provides the following update on trading in the current financial year ending 30 April 2013:

Trading to date in the second half of the financial year has been below our expectations with the result that we expect profits for the current year to be substantially below market estimates. 

The Group has completed the cost savings forecast in the retail business and we will enter the next financial year with a lower cost base and an appropriate structure to support growth.

The Board is undertaking a strategic review in order to accelerate its objective of becoming an end-to-end solutions provider to MNOs, MVNOs and OEMs. This is not currently envisaged to involve a sale of the Company.

Enquiries:

EXPANSYS plc Anthony Catterson, CEO Chris Ogle, CFO (Via M: Communications) N+1 Singer Jonny Franklin-Adams or Jenny Wyllie Tel. [phone] [e-mail] / [e-mail] M:Communications Ben Simons or Matthew Neal Tel [phone]/2368 [e-mail] / [e-mail] Investor relations website: www.EXPANSYS.plc.uk

About EXPANSYS

EXPANSYS (AIM: XPS) is the parent company of businesses operating in the international eCommerce, Consumer Technology and wireless Telecommunications markets.

The Group comprises Expansys.com, a global eCommerce consumer technology store operating directly in 51 countries (and indirectly in over 200 countries) with a unique global footprint, infrastructure and experience in consumer technology eCommerce, PJ Media, who build and operate multi-channel services and solutions for mobile networks worldwide and DSNS, the UK's market leading SIM card distributor and now established as a national SIM distributor in North America.

 

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