Business
Half Yearly Report
Half Yearly Report.
About this update from Accsys Technologies Plc
[{"type":"text","content":"\n RNS Number : 6037C Accsys Technologies PLC 17 November 2009 \n \n\n17 November 2009\nAIM: AXS\nNYSE Euronext Amsterdam: AXS\n\nACCSYS TECHNOLOGIES PLC (\"Accsys\" or \"the Company\")\n\nINTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2009\n\n\nFinancial Highlights\n \n\n\n Revenue of €9.3 million (2008: €17.9 million) and a pre-tax loss of €8.0 million (2008: profit of €0.2 million) in the period\n\n\nRestructuring costs of €0.9 million, reducing headcount from 126 to 102\n\n\nNet cash position of €9.5 million (2008: €29.6m)\n\n\n\nOperational Highlights\n\n\n\n Paul Clegg appointed as CEO\n\n\nWilly Paterson-Brown to assume the role of non-executive Chairman\n\n\nAdditional distribution agreements including Universal Forest Products Inc, making a total of 12 distribution agreements and 2 agency agreements\n\n\nFurther improvements to Arnhem facility including automation of wood handling systems\n\n\nThe first test runs of Tricoya® MDF produced \n\n\n\nPaul Clegg, CEO of Accsys, commented:\n\"Whilst the economic climate has clearly affected the timing of our licensing revenue, we have successfully continued the expansion of our global network of distributors and it is encouraging to see the increasing demand for our Accoya® wood. In addition, the recent changes to management and operations have given us a clear focus and a more appropriate cost base from which to grow the business.\"\n\n\n\n\n\nFor further information, please contact:\n\n\n\n\nAccsys Technologies PLC\n\n\nPaul Clegg, CEO\nKevin Wood, CFO\n\n\n+44 33 3888 4141\n\n\n\n \n\n\n\n\nMatrix Corporate Capital LLP\n\nThreadneedle \nCommunications\n\n\n\nStephen Mischler\nAnu Tayal\n\nGraham Herring\nJosh Royston\[email protected]\[email protected]\n\n\n\n+44 20 3206 7000\n\n\n+44 20 7653 9850\n\n\n \n\n\n\n\nCitigate First Financial B.V.\n\n\nWouter van de Putte \nLaurens Goverse \n\n\n+ 31 20 575 4080\n\n\n \n\n\n\n\nAccsys Technologies PLC\n\nChairman's statement\n\n\nOperating Review\n\nPaul Clegg was appointed as Chief Executive Officer on 1 August 2009 and began a series of changes to the overall management structure and operations of the business. These are now completed. A thorou...