4th Oct 2007 12:17
Clarity Commerce Solutions PLC04 October 2007 Clarity Announces Results of Initial Strategic Review and Commencement of SecondPhase of Review Clarity Commerce Solutions plc ("Clarity" or the "Group") In our Preliminary Statement, the Group announced it had begun to reviewstrategy and focus on reducing costs and improving accountability. Clarity hasnow implemented a number of changes in its structure, based around four tradingdivisions - Retail, Leisure, Hospitality and Ticketing Under the supervision of Ken Smith, divisional management is now focusing ondriving profitability through a higher number of lower revenue sales, and oncompleting the ongoing programme of cost reductions and cash-generation.Development expenditure is now being closely managed, at a much-reduced level,based on specific customer requirements. Furthermore, it is planned to linkmanagement remuneration to performance wherever practical. In addition the Clarity Board has commissioned a second phase of the strategicreview which will be led by Graham York, CEO, during the second half of thefinancial year. Clarity will analyse its markets and its competitive positioningand examine which of the Group's activities are core and can deliver greaterprofits and growth, particularly in the light of emerging trends in each of themarkets in which the Group operates, and the very fluid competitor and ITlandscape. Such a review process will consider the divestment of non-core activities andproperty, and/or the strengthening of areas in which the Board sees growthpotential. By freeing the CEO from the day to day running of the business, yet ensuringthat the Group Managing Director remains focused on operational effectiveness,Clarity is setting out to avoid the problems which have beset many companies inthe past, where, because of an emphasis on strategy, the management has beendistracted from its fundamental task of achieving profitability and positivecash flow. Graham York, CEO orKen Smith, Group Managing DirectorClarity Commerce Solutions plc01932 778001 Fiona Kindness, DirectorGrant Thornton UK LLP (Nomad)020 7728 3414 Ian Callaway, DirectorSVS Securities plc (Broker)Tel: 020 7638 5600 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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