Business
Half Yearly Report (Replaceme
Half Yearly Report (Replaceme.
About this update from Crimson Tide Plc
[{"type":"text","content":"\n RNS Number : 2814X Crimson Tide PLC 11 August 2009 \nThe following text relates to an announcement RNS 1775X released at 7:00am on 11 August 2009. In the previous announcement there was a superfluous amount of “553,191” above the correct gross profit figure in each of the three columns in the Unaudited Consolidated Income Statement. This has now been removed.\n \n 11 August 2009 \n\nCrimson Tide plc\n('Crimson Tide' or 'the Company')\n(A leading service provider of mobile data solutions for business)\n\nAnnouncement of Interim Results to 30 June 2009\n\nHighlights\n\n\nProfitable at the EBITDA level for the first time since flotation \n\n\nMargins increased with continuing focus on higher value mobile data solutions\n\n\n Pipeline of opportunities continues to grow with new sales channels\n\n\nBarrie Whipp, Executive Chairman, commented;\n \n'I am absolutely delighted that we have, as planned, achieved our first EBITDA profit since admission to AIM. To have achieved this in such difficult economic conditions is testament to the quality of our offering, the resilience of our business model and the expertise of our management team.'\n\nChairman's Statement\n\nI am pleased to report the results for Crimson Tide plc for the 6 months ended June 30 2009.\n\nDuring these challenging economic times management has been completely focused on ensuring that we are able to deliver our range of exciting mobile data solutions whilst continuing to secure cash generative business.\n\nI am absolutely delighted that we have managed to do this and deliver our first EBITDA profit since our admission to AIM, exactly on schedule. With much of our income being of a recurring, contracted nature, it provides us with a very solid platform to build on where new business achieved will have a direct impact on bottom line growth.\n\nThese results have been achieved despite the particular difficulties in the Irish economy and the significant downturn which is affecting all Irish businesses. Management reacted very quickly to the situation in Ireland and put in place measures to minimise our exposure to the downturn and therefore keep losses to a minimum. The&...