17th May 2005 12:37
Immediate Release: Tuesday 17 May 2005 Toad Group plc (`Toad Group') At today's AGM all resolutions were duly passed. AGM Trading Statement I am pleased to report that current trading is in line with expectations andcash flow remains strong. We are looking for further growth in the remainder ofthe year from installation revenue within the public transport and hands-freemobile `phone sectors. We also have several `pipeline' opportunities inprogress.Public transport - CCTV and black box technologySince acquiring a 24% stake in 21st Century Crime Prevention Services Limited("21st Century") at the end of 2004 we have increased our holding to 49% on theback of some very encouraging progress by 21st Century in the first 4 months ofthis year. To support the growth of this partnership we have geared up ourengineering resource so that we now have four teams of engineers dedicated towork on installations of CCTV and black box equipment supplied by 21st Centuryto public transport operators such as Arriva's UK Bus Division. We purchasedour stake in 21st Century for ‚£2.4m in cash by way of preference shares whichyield a dividend entitlement of ‚£500,000 per annum. We have an option toacquire the remaining 51% of 21st Century.Hands free kitsThis business grew significantly in 2004 and from a standing start contributedover ‚£3m to our sales last year. We are now handling 3,000 installations amonth, most of which come from our contract with UTL who manage theinstallation logistics on behalf of Vodafone. Expanding our customer base willbe key to further growth in this business sector.In addition to these projects we are also looking at a number of other excitinginitiatives and we hope to be able to report on these due course.In the meantime, I would like to take this opportunity to thank ourshareholders for their support and the staff of the Group and all our businesspartners for their contribution for the year to date.Peter Ward17 May 2005For enquiries please contact:Peter WardChairman, Toad Group plcWilson JenningsFinance Director, Toad Group plcTel: 020 8710 4000Andy TanHansard CommunicationsTel: 020 7245 1100ENDTOAD GROUP PLCRelated Shares:
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