Trading Statement

RNS Number : 4894A

WEARE 2020 PLC

30 March 2012

 



Weare2020 plc

(the "Company" or "Group")

Trading Update

 30 March 2012

Weare2020plc, the digital marketing group, provides a trading update ahead of the publication of its preliminary results to 31 March 2012.

Our interim results to September 2011 showed significant progress for the Group. Despite a decline in gross profit as a result of the consolidation of the operations in Nottingham and the impact of the economic environment on 2020 Agency, the Company posted PBT of £1.01m on a gross profit of £15.25m.

A number of clients have deferred their expenditure decisions which has affected 2020 Technology, our e-commerce project implementation division, in particular. The Group expects to report revenues of £38m. On the positive side 2020 Dialogue, our lead generation and data and risk business continued to perform well and above expectations. The Group's adjusted PBT has also been affected by a requirement to make a one-off provision in relation to certain fees in dispute amounting to £200,000. As a result the Group expects to report an adjusted PBT of £3.1m.

The Group expects to publish its preliminary results in the week beginning 25 June 2012.

Enquiries:

Weare2020 plc

Keith Sadler                                                                079122 74522

COO, Group Finance Director

Cenkos Securities plc

Ivonne Cantu (Nomad)                                                020 7397 8980

 

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