Manpower Software PLC
8 October 2001
FOR IMMEDIATE RELEASE
8 October 2001
MANPOWER SOFTWARE PLC ('the Company')
AGM STATEMENT
Manpower Software puts more sales resources into military markets
Manpower Software plc announces that it has reviewed its strategy in the light
of the 11 September terrorist attacks and, in light of the current economic
climate, has decided to increase its focus into military markets for its
manpower scheduling software.
At the Annual General Meeting of the Company held today, Robert Drummond,
Managing Director, said 'We have thoroughly reviewed our cost base and have
identified additional savings in areas other than sales and marketing, which
remain of vital importance in order to ensure continued growth of the
business. Some of these savings we are investing immediately in additional
sales and marketing effort in the military markets which we know and where our
prospects are good.
The atrocities in the USA have had an effect on the cruise industry which
currently is a major market for our software. So far, we have not lost any
major prospective orders and we are proceeding cautiously with our plans to
establish a modest operation in Miami to support our cruise clients.
It is still too early to judge the longer term effect of 11 September on our
overall profit prospects, but the timing of orders from the cruise industry
may be affected and may have an impact on our first half results to 30
November 2001. The measures set out above are intended to minimize any such
downturn.'
The Company has seen a significant improvement in trading results in the year
ended 31 May 2001, with revenues up 72% and losses cut from £2.8m to £0.7m.
All the resolutions proposed at the Annual General Meeting were duly passed
without amendment.
END
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