27th Oct 2005 12:31
Fonebak plc27 October 2005 FONEBAK PLC 27 October 2005 Fonebak plc (the "Company") AGM Statement At its Annual General Meeting to be held today at 4.00 p.m., Gordon Shields, theChairman of Fonebak, will make the following statement: "Trading Update I am pleased to announce that the turnover and operating profits of the pre-existing Fonebak business, the recently acquired Intec business, and the groupas a whole have met our expectations for the first quarter of the currentfinancial year to 30 June 2006. Against a background of increasing network competition, the uptake of the new 3Gtechnology, the imminent implementation of the Waste Electrical and ElectronicEquipment Directive, and the continued importance of environmental and CSRdrivers among our clients (all of which continue to stimulate the reuse marketin both the UK and Europe), Fonebak's in-bound volumes remain strong and areahead of the in-bound volumes for the same period in the prior year. Fonebak has made progress across its in-bound geographies, winning new clientsin France, Italy, Spain, Slovakia and Portugal, and continuing to expand theportfolio of services provided to UK clients. Fonebak's out-bound markets remain buoyant as progress continues to be made inemerging economies towards the next billion* GSM mobile users, and Fonebakcontinues to experience strong demand for its products in these out-boundmarkets as a consequence. Operationally, the development of our Romanian facility has been completed, andis now recognised by our clients as a showcase repair facility. The throughputof product has increased in line with expectations. I am particularly pleased to report that Intec, which Fonebak acquired on 29July 2005, has been successfully integrated within the Fonebak group, and itsresults for the two months since acquisition have met our expectations. Intechas not only extended the scope of its repair facilities, but also won newcontracts in its own right, most recently a new contract with a UK network. The Board remains confident in its outlook for the year to 30 June 2006." 27 October 2005 Enquiries: Pelham Public RelationsJames Henderson 020 7743 6673 M - 07774 444163Charles Vivian 020 7743 6672 M - 07977 297903 Company Notes Fonebak PLC Fonebak is the UK based leader in the refurbishment, resale and end of lifeprocessing of mobile phones. It has contracts with mobile phone operators,major retailers and handset manufacturers across Europe to provide services torepair, refurbish and either remarket and/or recycle the millions of handsetsreplaced each year (it is estimated that over eighteen million handsets arereplaced each year in the UK alone). Fonebak not only provides environmental compliance for its clients and deliversaffordable communications to the populations of developing economies (themajority of whom are unable to afford the price of even the cheapest newhandset), but through its World recycling support scheme it also raisesinternational environmental awareness and through revenues generated on behalfof its clients (much of which is donated to charity) supports over 1,000charitable activities. Its combination of business success in internationaltrade and its contribution to corporate social responsibility have won it anumber of accolades including Business in the Community Award for Excellence andQueens Award for Enterprise 2005. Intec Group Limited Intec is an established and leading specialist in the after sale support ofmobile phone handsets. The group comprises two divisions: Intec Distribution andIntec Cellular Services. Intec is recognised in the mobile phone industry forits outstanding levels of quality, customer service and innovation. It has forthe last three years won the industry award for repair centre excellence. Intec Cellular Services has accreditations to carry out repairs for the majorityof handset manufacturers and provides complete repair solutions for insurers,network service providers, manufacturers, and retail organisations. Intec Distribution provides a range of supply services, including sourcing,specialist fulfillment and logistics services. ENDS This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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