17th Jan 2005 17:52
Stilo International PLC17 January 2005 Stilo International plc Re Trading Update and Directorate Changes Stilo International plc ("Stilo" or the "Company"), the XML content engineeringcompany, is issuing this trading statement for the year ended 31 December 2004in advance of its preliminary results for the year which are due to be announcedon 3 March 2005. Sales for 2004 will be lower than anticipated, overallslightly below the £2.28 million announced for 2003, but with pre tax lossesshowing a significant reduction. The recent closure of the loss-making knowledge engineering division in the UKand acquisition of the content engineering division of Xia Systems Corporationin North America, has significantly enhanced Stilo's prospects and we expectstrong revenue growth and profits in 2005. The Board of Stilo is also pleased to announce that it has appointed Mr RichardAlsept as Finance Director. Richard, aged 39, a qualified chartered accountant, has acted as Stilo's ChiefFinancial Officer and Company secretary since October 2002. The Board also announces that Stephen Buswell and Professor Roy Pike, foundingmembers of Stilo, have resigned as Directors of the Company with immediateeffect. The Board would like to thank Mr Buswell and Prof. Pike for theircontribution to the Company over many years. Les Burnham, Stilo's CEO, commented: "The Board changes announced today reflect the recent structural changesundertaken by the Company and the need for an even stronger financial focusenabling us to maximise the opportunities in 2005". Enquiries: Les Burnham, Chief Executive, Stilo International plc 01793 441 444Russell Cook, Charles Stanley 020 7739 8200Ian Seaton, Bankside Consultants 020 7444 4157 Note: Richard Alsepts's other current and previous directorships over the last 5 yearsare: Current: Richard Alsept Ltd Previous: Lifestyle Upholstery Ltd There are no other matters to be disclosed in relation to this appointment underparagraph (f) of Schedule Two of the AIM Rules. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Stilo