Business
Preliminary Results
Preliminary Results.
About this update from Kazera Global Plc
[{"type":"text","content":"\n RNS Number : 9341T Managed Support Services PLC 16 June 2009 \n \n\n\n\n\n\nFOR IMMEDIATE RELEASE\n\n\n16 June 2009\n\n\n\n\nManaged Support Services plc\n\nPRELIMINARY RESULTS FOR THE TWELVE MONTHS ENDED 31 MARCH 2009\n\nManaged Support Services plc ('MSS') announces its preliminary results for the twelve months ended 31 March 2009. \nKEY HIGHLIGHTS\n\nFinancial highlights\n\n\n\nTurnover £26.3m (2008: £16.4m) **\n\n\n\n\n\nGross margin improved to 28% (2008: 17%) ** \n\n\n\n\n\nAdjusted* profit before tax £1.65m (2008: Loss £3.2m) **\n\n\n\n\n\nIncreased net cash balances £12m (2008: £7m)\n\n\n\n\n\nAdjusted* diluted earnings per share 1.35p (2008: Loss 5.5p) **\n\n\n\n\n\nStatutory profit after tax £121,000 (2008: Loss £8.9m), statutory EPS 0.13p \n\n\n(2008: Loss 9.93p) **\n\n\n\nSuccessful Placing raising £5.6m (net), after expenses, completed in February 2009\n\n\n\n(*before restructuring, share based payments, amortisation and exceptional asset sale)\n(** comparable figures for 2008 are for the six months to 31 March 2008) \n\n\nOperational highlights\n\n\n\nSubstantial restructuring with management changes at all levels\n\n\n\n\n\nImproved contract management together with an increased focus on maintenance and service revenues contributed to a substantial increase in gross margin\n\n\n\n\n\nAcquisition of Delrac in May 2009 to increase recurring revenues and specialist engineering skills\n\n\n\nCommenting on the results, Simon Beart, Chief Executive said:\n\n'The Group is now a stable, cash rich platform for expansion. A broad range of potential acquisitions are being examined within the building services sector and in other markets, where the Board's management experience is applicable.' \n\n\nFOR FURTHER INFORMATION, PLEASE CONTACT:\n\n\n\n\nManaged Support Services plc:\n\n\n\n\n\n\n\n Simon Beart, Chief Executive\n\n\n07710 444370\n\n\n\n\nCenkos Securities plc:\n\n\n\n\n\n\n\n Nick Wells\n\n\n020 7397 8900\n\n\n\n\n Stephen Keys \n\n\n\n\n\n\n\nBuchanan Communications:\n\n\n\n\n\n\n\n Richard Darby\n\n\n020 7466 5000\n\n\n\n\n Chris McMahon\n\n\n\n\n\n\n\n\n\n\nNotes to editors\n\nManaged Support Services plc is one of the UK's leading suppliers of quality building so...