Sondex PLC
23 June 2004
Sondex Plc
"Sondex" or the "Company"
AGM and Trading Update
At Sondex's Annual General Meeting held today Iain Paterson, Chairman of Sondex,
made the following comments:
"The past twelve months have seen a transformation at Sondex including our
flotation on the main market of the London Stock Exchange. The acquisition of
Computer Sonics Systems ("CSS") in November, providing us with a stepping stone
into the important Canadian market, has been successfully integrated and already
is exceeding our initial expectations. We additionally opened two further
offices in the UAE and Beijing in China, with significant new business already
being generated in these areas.
In May we announced the proposed acquisition of Geolink International Limited,
the approval of which is subject to, amongst other things, the approval of
shareholders at an Extraordinary General Meeting to be held immediately
following this meeting. We believe that this acquisition, will add a new
dimension to the group, bringing enhanced opportunities and new overseas
exposure, for both companies whilst providing a platform for further expansion.
The acquisition is expected to complete on 30 June 2004.
Order intake for the first 15 weeks of the current financial year is
significantly ahead of the same period last year, giving confidence that our
half year results will be in line with expectations. New customers have been
added in Kuwait, Indonesia and India, with particularly strong trading in the
Middle East.
In the past year there has been an increasing realisation of the importance of
accurately identifying and analysing reserves of oil and gas as well as the
production of these reserves. The technology supplied by our expanded group,
including Geolink, should assist the oil and gas industry in achieving this in
the future."
23 June 2004
Enquiries:
Sondex plc
Martin Perry, Chief Executive +44 (0) 118 932 6755
Chris Wilks, Finance Director +44 (0) 118 932 6755
Collins Stewart Limited
Nick Ellis +44 (0) 20 7523 8350
Mark Connelly +44 (0) 20 7523 8350
College Hill
James Henderson +44 (0) 20 7457 2020
Nick Elwes +44 (0) 20 7457 2020
This information is provided by RNS
The company news service from the London Stock Exchange
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