21st Dec 2006 08:16
EG Solutions plc21 December 2006 eg solutions plc Trading update eg solutions plc (AIM: EGS), the IT software and services company, announces atrading update for the year ending 31 January 2007. As a result of slower than expected conversion of opportunities into sales sinceOctober 2006, the Company anticipates that the operating results for eg willfall significantly below current market forecasts. Most of the Company's costbase is fixed so the shortfall in sales will have a proportionately greaterimpact on profitability. Whilst the Company expects to close further contracts before the year end, thesewill not have a significant impact on the results for the year ending 31stJanuary 2007 but will be fulfilled during the next financial year. Despite thesedelays the sales pipeline is encouraging and the Board remains confident of eg'sbusiness model and future trading performance. The Company intends to provide a further update on its performance around theend of its current financial year in 2007. 21 December 2006 Enquiries:eg solutionsElizabeth Gooch, Chief Executive OfficerDavid Blain, Finance Director 01785 715772 College Hill 020 7457 2020Carl Franklin/Ben Way Brewin Dolphin Securities (Nominated Adviser)Richard Evans 0845 270 8602 About eg solutions eg solutions uses a combination of proprietary software and operationsmanagement methodology to deliver significant improvements in the performance ofits clients. Current operations are focused on the financial services sectorwith clients that include Norwich Union, Portman Building Society andCo-operative Financial Services. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
eg Solutions PLC