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AGM Statement

30th Oct 2006 11:08

Eckoh Technologies PLC30 October 2006 For immediate release 30 October 2006 Eckoh Technologies PLC AGM Statement Peter Reynolds, the Chairman of Eckoh Technologies PLC ("Eckoh"), commented atthe AGM today: "I am very pleased to report a year of significant strategic progress, andstrong operating performance in all areas of activity. For the year ended 31March 2006, Group turnover increased by 59% to £127.1m for the year, generatingpre-tax profits of £2.3m before intangible asset amortisation, restructuringcharges and discontinued operations. The profit before taxation was £1.1m andGroup cash balances were £12.7m at the year end. During the year, our successful Speech Solutions business merged with IVR ClientServices under the "Eckoh" brand. This operation generated combined revenues inexcess of £50m last year. However, following the renewal of the ITV and BTcontracts, and the recent launch of a number of new and exciting "participationTV" channels - including ITV Play - we expect revenues to be significantlyhigher next year. We have rebranded our Advertised Services division as "Connection Makers", whichnow operates as a stand-alone entity within the Group under the direction of anexperienced management team. Connection Makers continued to operate profitablyduring the year, and is looking to expand its range of consumer entertainmentservices over the next twelve months. The Board continues to believe that Eckoh's share price does not fully reflectthe value of the Group's constituent businesses and assets, and as such remainscommitted to pursue a strategy to unlock value for Eckoh shareholders. As part of this strategy, on 18 July 2006 the offer by Redstone plc for theentire issued share capital of Symphony Telecom Holdings plc ("Symphony") at aprice of 54.5p in cash, for each Symphony ordinary share was declaredunconditional in all respects. Consequently the Company's holding of 20,099,999ordinary shares in Symphony has been disposed, the proceeds of which have beenplaced on deposit. The Company believes that it will not need all of the proceeds from the sale ofSymphony to satisfy current operations and the Board are therefore consideringhow to best utilise its additional cash resources. As announced on 19 October, the Company has progressed well during the first sixmonths of the financial year and is trading comfortably ahead of marketexpectations. The Group is also pleased with recent commercial contractsuccesses, including Parcelforce Worldwide, National Rail Enquiries and renewalof the Vue Entertainment contract and ongoing discussions with a number ofpotential new clients. Over the coming year we intend to focus both our resources and management on thecontinuing development of Eckoh and Connection Makers. The Board is continuingto evaluate a number of strategic options, and we will be making furtherannouncements in due course. Finally, I would like to thank our staff for their continuing loyalty,dedication and hard work over the past twelve months, as we all look forward toanother interesting year ahead." For further enquiries, please contact:Eckoh Technologies plc Tel: 08701 100 700Nik Philpot, Chief Executive OfficerAdam Moloney, Group Finance Director Buchanan Communications Tel: 020 7466 5000Mark Edwards/Jeremy Garcia Corporate Synergy Tel: 020 7448 4400Brian Stockbridge This information is provided by RNS The company news service from the London Stock Exchange

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Eckoh Technologies
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