Business
Half Yearly Report
Half Yearly Report.
About this update from Kendrick Resources Plc
[{"type":"text","content":"\n RNS Number : 5327S Kenetics Group Limited 13 September 2010 \n \n\nFor release: 0700, 13 September 2010\n \n \nKENETICS GROUP LIMITED\n \nINTERIM FINANCIAL INFORMATION\nFOR THE SIX MONTHS ENDED 30 JUNE 2010\n \nKenetics Group Limited\n(\"Kenetics\" or \"the Company\" or \"the Group\")\n \nInterim Results\n \n \nKenetics Group Limited (AIM: KEN) the Radio Frequency Identification (RFID) company focused on Security and RFID systems and products, announces its interim results for the six month period ended 30 June 2010.\n \nKey Points\n \n· Consolidated turnover fell 17% to £472,000 (H1 2009: £570,000).\n· Consolidated loss on ordinary activities after tax and expenses was up 6.4% £217,000 (H1 2009: £204,000). \n· Increase in materials cost due to the manufacturing of the production units of On-Board Bus Equipment (\"OBE\") in fulfillment of the Singapore Land Transport Authority (\"LTA\") contracts, which was offset by reduction in employee benefits expenses and other operating expenses.\n· In-house testing of the OBE systems for the LTA contracts has been completed. \n· Delivery of the production systems will begin in September 2010 for deployment in October 2010.\n\n \nCommenting on the results, Ken Wong, Chairman and CEO said: \"We feel confident that the LTA trials will be successfully completed by the end of the year and the Company will continue to seize the opportunities not only in Singapore but also in the region to grow the business\"\n \n \n\n\n\n\nFor further information, please contact:\n\n\n\n\nKen Wong, Chairman and CEO\n\n\n\n\nKenetics Group Limited \n\n\n\n\nTel: +65 6749 0083\n\n\n\n\nWebsite:www.kenetics-group.com \n\n\n\n\n \n\n\n\n\nDominique Doussot\n\n\n\n\nZAI Corporate Finance Ltd\n\n\n\n\n(Nominated Advisor)\n\n\n\n\nTel: +44 207 060 1760\n\n\n\n\n \n\n\n\n\nAlex Mattey / Ian Callaway\n\n\n\n\nSVS Securities (PLC)\n\n\n\n\n(Broker)\n\n\n\n\nTel: +44 207 638 5600\n\n\n\n\n \n\n\n\n\n\n\n\nJeremy Carey / Andrew Dunn\n\n\n\n\n\n\n\nTavistock Communications Ltd\n\n\n\n\n\n\n\nTel: +44 207 920 3150\n\n\n\n\n \n \nCHAIRMAN'S STATEMENT\n \nThe first half year performance has been affected by the delay in the start of the deploy...