Business
Interim Results and Nomad & B
Interim Results and Nomad & B.
About this update from Tavistock Investments Plc
[{"type":"text","content":"\n RNS Number : 6167W Socialgo plc 23 November 2010 \n\n\n\n\n\nRNS Release\n\n\n 23 November 2010\n\n\n\n\n \n \n \nSocialGO plc (the 'Company')\n \n \nInterim Results and Nomad & Broker Appointment\n \nThe Board of Directors of SocialGO plc ('SocialGO' or the 'Company'), the developer and provider of software which allows groups to build their own on-line social networks, is pleased to report today its consolidated financial results for the six months ended 30 September 2010.\n \nHighlights:\n \n· Revenues have increased by 480% over the comparable period in the prior year;\n· Gross Profit of £183,000 was reported for the period against a gross loss of £71,000 for the prior year;\n· SocialGO version 2 to be launched as a beta release in Quarter 1, 2011;\n· Fund raising of £500,000 for the period in the form of the issuance of Ordinary Shares in the Company;\n· Dominic Wheatley appointed Executive Chairman of the Board of Directors;\n· Alex Halliday appointed Chief Executive Officer and Steve Hardman appointed Chief Operating Officer;\n· Canaccord Genuity Limited appointed as Company NOMAD and Broker.\n \n \nCommenting, Dominic Wheatley, Executive Chairman, said: \"The first six months of the year has seen the Company continue to focus on the roll-out of the SocialGO™ 'Software as a Service' platform. This has been achieved through the further development of the product software, increased customer support services and additional back office resources as well as developing its sales and marketing initiatives to enhance distribution channels to market.\n \n\"The SocialGO™ platform has moved on from its initial audience of 'early adopters' and is now firmly in the sphere of the 'early majority' as the market matures and opportunities to leverage social networking in digital media become more apparent. Our initial expectations, that the platform would expand from its early market of niche special interest groups to achieve acceptance as part of the media presence of large established organisations, have been met as the number of customers who represent the latter market has increased as a percentage of the overall custome...