6th Mar 2014 07:00
Tangent Communications plc ("Tangent" or the "Company")
TRADING UPDATE
Profits AHEAD OF expectations for the full year
Tangent (AIM: TNG), announces that its underlying operating profit for the full year to 28 February 2014 will be ahead of current market expectations. Underlying operating profit has increased in excess of 20% on a like for like basis compared to the prior year. Revenues for the year will be in line with market expectations of £27m.
The business continues to be cash generative and net cash will be approximately £2.6m at the period end.
The economy is picking up and we start our new financial year with confidence. We have recruited much of the talent required to fuel the growth expected in the forthcoming year. Growth is anticipated across all of our operating businesses as we expand the range of products and services we offer.
Fourth Quarter Key Performance Indicators for printed.com, goodprint and smileprint
The growth in sales continues to highlight the stickiness of our customer base and the extent to which they are buying more. Average order values remain consistent with prior quarters for both new and repeat customers.
Full year sales reached £9.3m an increase of 16% over the prior year.
Q4 KPIs printed.com, goodprint, smileprint | Q4 (Dec to Feb 2014) | Q4 (Dec to Feb 2013) |
Sales | £2.2m | £2.0m |
New customers | 14,153 | 18,677 |
Unique customers | 28,819 | 30,035 |
Advertising/Sales | 25% | 26% |
For further information, please contact:
Tangent Communications plcTimothy Green - Chief Executive: 020 7462 6101Seema Paterson - Corporate Development: 020 7462 6101
Canaccord Genuity Limited - Nominated adviser and broker
Bruce Garrow / Emma Gabriel: 020 7523 8350
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