28th Jul 2009 07:00
Tangent Communications plc ("Tangent")
AGM Statement
Tangent Communications plc, announces that at its Annual General Meeting, to be held at 2.30pm today, Piers Caldecote, Chairman of Tangent, will make the following statement:
"Trading in the first four months of the new financial year is ahead of our expectations. Net cash remains above £2m.
Tangent Direct
Property sales are driven by the number of active accounts (branches) and volume of transactions. The number of branches who have used our system has increased by 37% in the last 7 months and we are beginning to see a recovery in unit order levels from these clients. The integration of the VLM client base has gone well and is making a profitable contribution.
Tangent One
Our web agency has performed particularly well. A combination of additional revenue from existing clients, new client wins (Boots and RIBA) and the integration of Lateral has contributed to its strong performance to date.
Tangent Labs
At the year end we announced that ZUI had won its first significant contract. The build process is underway and the early signs are that the contract will be larger than initially expected.
The Board is encouraged by the start to the year and the development of new business areas into which we intend to continue to expand using our strong financial position."
For further information, please contact:
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Tangent Communications plc |
020 7462 6100 |
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Nicholas Green (Joint CEO) |
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Graeme Harris (Finance Director) |
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Collins Stewart |
020 7523 8350 |
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Adrian Hadden/Stewart Wallace |
About the Company:
Tangent is a leading integrator of technology and marketing strategy, delivering for its clients improved customer engagement and revenue through direct mail, web, email, mobile and print.
Tangent employs 175 people across three locations in London, Newcastle and Cheltenham and is traded on AIM (AIM: TNG). Clients include Borders Books, Citroen, Gala Coral Group, Halifax, Homeserve, The Labour Party, SAP, and Wolseley Group. For more information please visit www.tangentplc.com
Related Shares:
TNG.L