7th Jul 2005 07:01
Torex Retail PLC07 July 2005 7 July 2005 Torex Retail Plc Trading Update Torex Retail Plc ("Torex Retail" or "the Group"), is pleased to announce apositive update on trading for the six months ended 30 June 2005. This reflects a strong organic performance in all areas of the Group, includingnew LUCAS contract wins totalling approximately £10 million. LUCAS • New sales success for LUCAS, the Group's market leading JAVA based electronic point of sale (EPOS) solution, with a number of significant contract wins with major international retailers including Deichmann, Reiss and Esprit and UK based retailers including RD Scott, Co-op Home Stores and Mitsukoshi. In addition, LUCAS has now been installed in over 40 stores and more than 150 lanes in the UK and Ireland, with more planned for the next few months. These installations will now act as excellent reference sites for our large prospect pipeline. PERFORMANCE MANAGEMENT PRODUCTS • Significant new wins for SMARTDECISION, the Group's merchandise planning product, including Ann Taylor in America, Modelo Continente in Portugal (part of the €1.6 billion turnover Sonnae Group) and Littlewoods and Oldrids in the UK. PETROLEUM & CONVENIENCE • A new £3.3 million contract for the Petroleum and Conveniencedivision, to install its market leading PoS solution 'Iridium' and backoffice system 'Prism' into 225 stores across the UK. BUSINESS DEVELOPMENT Alphameric Retail, which was acquired in November 2004, is now fully integratedinto Torex Retail, ahead of schedule. Through RSS, which was acquired in May 2005, we are achieving real momentum andare already making strong progress in gaining greater penetration of the USmarket, the largest market in the world for retail systems. In addition, we are currently working towards finalising the recommended offersfor XN Checkout Holdings plc and Anker plc. Both of these businesses meet withour strategic goal of ultimately becoming a global market leader and inparticular are expected to be earnings enhancing. This statement regardingearnings enhancement does not constitute a profit forecast nor should it beinterpreted to mean that earnings per share of Torex Retail for the current orfuture years will necessarily match or exceed the historical published earningsper share of Torex Retail. INTERIM RESULTS The Board intends to announce results for the six months ended 30 June 2005 inlate September and expects these results to be consistent with full yearmanagement expectations. The Group continues to enjoy a high level of revenuevisibility, based on strong recurring revenues from its blue-chip customer base.This, coupled with its new business pipeline, gives the directors confidenceabout the Group's prospects for 2005 and beyond. Chris Moore, Chief Executive, Torex Retail Plc, comments: "I am delighted with the progress we have made in all areas of our operationsduring the first half of this year. The cyclical upturn in the market is nowgathering momentum, most notably evidenced by our significant new contract winsfor LUCAS. Coupled with this, our accelerated growth plan through acquisitionsis already positioning us such that we are currently in discussions with some ofthe world's largest retailers as potential customers, both in Europe and theUSA. Enquiries: Torex Retail Plc 0870 050 9900 Chris Moore, Chief Executive Richard Thompson, Group Finance Director Citigate Dewe Rogerson 020 7638 9571 Ginny Pulbrook / Seb Hoyle This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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