Sondex PLC
23 March 2006
Sondex plc
("Sondex" or the "Company")
Trading Update
Revenues and operating profits expected to increase by over 50%
Sondex, a leading oilfield technology supplier, today provides an update prior
to entering into close period for the company's results for the year ended 28
February 2006.
Trading Update
The last year has seen a strong global oil and gas services market. Sondex
anticipates reporting revenues and operating profits up by over 50% to a revenue
figure in excess of £50million with sustained margins.
Substantial organic growth has been achieved. The year end numbers will also
include a first full year contribution from Geolink, against 8 months in the
previous year, and two full months of AES, acquired for £8 million in December
2005.
Performance is expected to exceed market consensus.
Continued Investment
Sondex has continued its programme of investing at record levels in product
development and international sales and marketing infrastructure. Manufacturing
capacity has been increased considerably in response to market conditions.
Brokership change
Sondex further announces that it has appointed Investec as the Company's sole
broker and advisor, with immediate effect.
Martin Perry, Chief Executive, commented:
"Both our divisions have performed well in the past year with an especially
strong second half producing good top-line growth and consistent margins.
"Our strategy of investing across the business combined with the continuing
healthy market conditions leaves Sondex ideally placed to deliver further growth
in the new financial year."
23 March 2006
ENQUIRIES:
Sondex Tel: 0118 932 6755
Martin Perry (Chief Executive)
Chris Wilks (Finance Director)
College Hill Tel: 020 7457 2020
Nick Elwes
Ben Brewerton
This information is provided by RNS
The company news service from the London Stock Exchange
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