Business
Preliminary Results
Preliminary Results.
About this update from Bradda Head Lithium Limited
[{"type":"text","content":"\n \nRNS Number : 7487N Baydonhill PLC 07 September 2011 \n \n\n7 September 2011\n \nBaydonhill plc \n(\"Baydonhill\" or \"the Company\")\n \nPreliminary results for the year ended 31 March 2011\n \n \nHIGHLIGHTS\n \n \n· Turnover (value of foreign exchange transactions) for the year up 107 per cent to £1,465 million (2010: £709 million)\n \n· Gross profit (foreign exchange commission earned) up 86 per cent to £6.7 million (2010: £3.6 million) \n \n· Profit before tax of £467,000 (2010: loss £739,000)\n \n· Profit after tax of £397,000 (2010: profit £681,000 after exceptional deferred tax credit)\n \n· Business strategically re-positioned to focus on core Corporate and Retail divisions\n \n \nSir Eric Peacock, Chairman of Baydonhill, commented:\n \n\"In the year to 31 March 2011 the Company produced a pleasing result; a year of maiden pre-tax profits. Towards the end of the year, the business undertook some important and necessary strategic changes which the board believes will bring long term benefits to shareholders. Whilst the current year will see these changes absorbed fully in the business, we expect good growth to come through from 2012 onwards.\"\n \n \nContacts:\n \n\n\n\n\nBaydonhill plc\n\n\n \n\n\n\n\nSir Eric Peacock, Chairman\nWayne Mitchell, Chief Executive\n\n\nTel: 020 7594 0584\n\n\n\n\n \n\n\n \n\n\n\n\nMerchant Securities Limited\n\n\n \n\n\n\n\nSimon Clements/David Worlidge\n\n\nTel: 020 7628 2200\n\n\n\n\n \n\n\n \n\n\n\n\nSquare1 Consulting Limited\n\n\nTel: 020 7929 5599\n\n\n\n\nDavid Bick/Mark Longson\n\n\n \n\n\n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n \nChairman's and Chief Executive Officer's Statement\n \nIntroduction\n \nIn the year under review the Company generated a profit before tax after several years of losses resulting from the investment in the business. Whilst revenue growth remained strong, the Company made some strategic changes...