Information  X 
Enter a valid email address

Phonelink PLC (GBG)

  Print      Mail a friend       Annual reports

Friday 23 July, 1999

Phonelink PLC

AGM Statement

23 July 1999
                      PhoneLink plc
            Annual General Meeting Statement
Proposed Trading Update for Release at the AGM
Since  the year end we have seen a continuing improvement
in  our  markets  but this has been gradual  rather  than
rapid.   External factors such as the Year 2000  continue
to  impact sales of new software products particularly in
our  Customer Services and Database Management  division.
This  is  occurring  across  the  software  industry   as
businesses complete their Year 2000 compliance  work  and
then put their systems into quarantine with no new system
changes  planned until after the millennium.  The  impact
of  the Year 2000 on sales as the year progresses towards
the  millennium  is  difficult to predict  and  this  may
affect trading further in the period to December 1999.
The low oil price, which affected our major customers  in
the   corporate  travel  division  last  year,  has   now
recovered  significantly and this division is  once  more
generating modest profits.
Since  the year end PhoneLink's on-line services division
has   made  good  progress  in  achieving  sales  of  its
Electronic Commerce systems to SmithKline Beecham and the
Builders  Merchants Federation.  The  division  has  also
expanded   its   software   sales   of   Ticket    Window
internationally.  A dedicated international sales manager
has  now  been appointed to spearhead the effort to  sell
Ticket  Window and its derivatives overseas.  The  Tel-Me
TravelClub.Com which allows customers to browse and  book
flights  on the Internet and was launched in May 1999  is
gathering  momentum rapidly.  The number of  visitors  to
the  site  has built up to around 6,000 per day currently
and the proportion of visitors purchasing is increasing.
Overall the prospects for the businesses within the Group
remain positive although momentum is building more slowly
than expected in certain areas principally as a result of
external factors.
Net cash balances at the end of June were £2.0 million.
For further information, please contact:
PhoneLink plc
Graham Ramsey, Chief Executive              0151 608 0205
Richard Law, Finance Director
Ludgate Communications
Richard Hews                                0171 253 2252
Victoria Martin

a d v e r t i s e m e n t