30th Jan 2007 12:00
Z Group PLC30 January 2007 30th January 2007 Z GROUP plc ("Z GROUP" or "the Company") Trading Update Z GROUP plc, the provider and developer of leading consumer internettechnologies, announces that trading has been below expectations over the finalquarter of the year and this is anticipated to have a significant impact on theresults of Z GROUP for the year ending 28 February 2007. OnShare revenue will not commence in the current financial year due to thedecision to focus in the short-term on growing the customer-base and improvingthe product's functionality. To date, OnShare has had approximately 10,000downloads and current monthly growth in downloads stands at 60%. The number ofdownloads is anticipated to increase significantly following the issue on 2February 2007 of a full release of OnShare (version 1.0), the point at which theservice comes out of beta release. Turnover for ONSPEED Mobile has been significantly below management'sexpectations in the final quarter of this financial year. Revenue generationhas been affected by timing delays to the closing of contracts with globalpartners. However the sales pipeline remains strong and substantial MOUs havebeen signed with partners in emerging markets, which the Company expects willconvert into revenue in the next financial year. During the fourth quarter, the Company has also commenced a cost reductionprogramme to streamline the business in line with current trading. A further update on trading will be issued after the year-end. For further information please contact: Alex Mackey, Catullus Consulting+ 44 7773 787 458Jack Bekhor & Jamie True (joint CEOs), Duncan Neale (CFO)+ 44 870 011 1173 About Z GROUP Founded in 2002, Z GROUP is a successful, publicly listed London-based technology company which acquires, licences and develops technologies and profitably commercialises them through proven branded marketing techniques, offering cutting edge, easy to use and affordable software. With over half a million customers to date, Z GROUP has six software businesslines: • OnShare: proprietary and revolutionary file sharing software enabling highly secure communication between small or large groups of users • ONSPEED Mobile: unique mobile phone acceleration software, which speeds up and optimises slow Internet connections and helps users control associated costs • ONSPEED: the fastest Internet acceleration software on the market, which instantly enables any PC, Mac and Pocket PC user to browse and email at near Broadband speeds by using a 9-patented compression technology • Net2Roam and NetAway: services that allow individuals and SMEs to obtain local Dial-up access numbers worldwide at rates below normal international rates • Onbidder: a service that integrates into eBay, making a user's bid at the last second of an auction - giving the user the best chance to win their item at the best possible price For more information on the Group, visit www.zgroupplc.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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