Business
Publication of 2019 Report & Accounts
Publication of 2019 Report & Accounts.
About this update from React Group Plc
[{"type":"text","content":"\n \nRNS Number : 3555B React Group PLC 30 January 2020 \n\n30 January 2020\n \nREACT GROUP PLC \n \nPublication of 2019 Report & Accounts\n \nThe Board of REACT Group PLC has today published the Report & Accounts for the year ended 30 September 2019.\n \nThe accounts, which will be sent to shareholders who have elected to receive a hard copy, are otherwise available also from the Company Secretary at c/o International Registrars Limited, Finsgate, 5-7 Cranwood Street London EC1V 9EE and are also available on the Company's website: www.reactplc.co.uk. Extracts are set out below.\n \nNotice of the Annual General Meeting, which will be held at 11.00 a.m on Tuesday 26 February 2020, at Hyatt Place, Gate House, 27 Uxbridge Road, Hayes, UB4 0JN is also available on the Company's website. \n \nFor further information, please contact:\n \n\n\n\nREACT Group:\nGill Leates - Executive Chairman\n \n\n\n \n07799 662642\n\n\n\n\nSPARK Advisory Partners Limited (nominated adviser)\nNeil Baldwin\n \n\n\n \n0113 370 8974\n\n\n\n\nPeterhouse Capital (Broker) \nDuncan Vasey/Martin Lampshire\n\n\n \n \n0207 459 0930\n\n\n\n \n \nExecutive Chairman's Statement\nFor the year ended 30 September 2019\n \nThe financial year of 2019 has been one of continued efforts to maximise cost efficiencies, where appropriate, refocusing the business on higher margin work in sectors where our services are valued the most and are most profitable. This has led to a slight fall in turnover, whilst gross margins and operating profits have materially improved.\n \nTurnover for the year ended 30 September 2019 was £3.10m (2018: £3.30m) as unprofitable work has been discontinued. Gross margins however were 750-basis points higher at 28.5% (2018: 21.0%) and operating performance has materially improved to a loss of £183,000 (2018: loss of £1...