29th Oct 2013 09:53
LONDON (Alliance News) - Snacktime PLC, the company which operates and sells drink and snack vending machines, said Tuesday that trading for the first-half of the year is broadly in line with expectations, with profits up despite falling revenues.
Snacktime said it expects first-half earnings before interest, taxes, depreciation and amortisation to increase by at least 50%, from GBP332,000 in earnings a year earlier, due to the absence of exceptional costs. In the first-half of last year, Snacktime reported exceptional costs of GBP846,000.
It said that it expects revenues for the six months to September 30 to be around GBP9.4 million, compared with GBP10.2 million the prior year.
The company also said that its met its debt and payback requirements during the six month period.
Snacktime is expected to release its interim results during November.
Shares in the vending machine operator were down 4.2% Tuesday morning, trading at 17.00 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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