25th Aug 2015 11:18
LONDON (Alliance News) - Technology and business services company IPPLUS PLC said Tuesday it expects to post a fall in revenue for its recently ended financial year, which it said had overall been "disappointing."
IPPLUS expects to post revenue of GBP6.5 million for the year to end-June, down from GBP9.1 million a year before. The company said that its business had remained challenging, with trading conditions continuing to be volatile.
On a more positive note, the company said its PCI-PAL business has won two international contracts in the Jewellery and Logistics sectors, and the businesses current year prospects remain "extremely positive." It expects to announce further contracts for PCI-PAL contracts in due course.
Additionally, its Ansaback call centre also won a "significant" contract with a London department store, revenue from which is expected to be "substantial."
"The new Ansaback and PCI-PAL contract wins should see the group bounce back in the new fiscal year, whilst our strong cash position will enable us to pursue capital investment plans to support our growth strategies," said Chief Executive Officer William Catchpole in a statement.
IPPLUS will announce its full year results "in the coming days."
Shares in the company were down 11.5% at 11.50 pence Tuesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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