Business
Interim Management Statement - Amendment
Interim Management Statement - Amendment.
About this update from Pebble Beach Systems Group Plc
[{"type":"text","content":"\n \nRNS Number : 8598G Vislink PLC 18 May 2011 \n \n\n \nVislink plc\n \nCorrection Announcement: Interim Management Statement\n \n \nThe following amendment has been made to the Interim Management Statement announcement released today 18 May 2011 at 07.00 under RNS No 7880G.\nThe date regarding John Hawkins assuming the role of interim CEO has now been amended from 1 April 2010 to 1 April 2011 \nAll other details remain unchanged.\n \nThe full amended text is shown below.\n \nVislink plc \nInterim Management Statement\n18 May 2011\n \nVislink plc (\"The Group\"), the global technology business specialising in secure communications products and services for the News & Entertainment and Law Enforcement & Public Safety markets, today publishes a trading update in respect of the financial period ending 17 May 2011.\n \nThe Group traded in line with expectations for the quarter ended 31 March 2011. We have seen order intake growth compared to the first quarter of 2010; this has been led by increased demand for our broadcast products in Asia and South America, which remain important strategic markets for the Group. The previously announced cost reduction programme has assisted in reducing total operating costs for the business by almost 20% compared to the first quarter of 2010. Additionally margins are improving. \n \nThe Group held net cash of £16.7 million at 31 March 2011 (31 December 2010: net cash of £22.2 million). Since 31 March the Group has returned £5.0 million of cash to shareholders throug...