20th Jul 2006 07:01
Sarantel Group PLC20 July 2006 Embargoed until 7:00 20 July 2006 Sarantel Group PLC ("Sarantel") Trading Update Sarantel has been informed by its largest customer that take up of its satelliteradio product has been lower than anticipated. Consequently, their demand forSarantel's satellite radio antenna is now well below previous expectations. However, Sarantel has received initial production orders for its new GPS antennafrom two major electronics companies. Sales of these antennas are unlikely tomaterially impact the current financial year. As a result, the Company will report revenues substantially below marketexpectations for the full year to 30 September 2006. The Company had cash of £6.8m as at 30 June 2006, of which approximately £1.3mis committed to cover finance leases. The Board of Sarantel has resolved toreview its cost base and/or improve its cash position. For further information please contact: Sarantel Group PLC www.sarantel.comDavid Wither, Chief Executive Officer 07974 352236Geoff Shingles, Non-Executive Chairman 07802 186062 Smithfield 020 7360 4900Sara Musgrave/Tania Wild Pictures are available for the media to view and download fromwww.vismedia.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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