Business
Preliminary Results
Preliminary Results.
About this update from Time Finance Plc
[{"type":"text","content":"\n Timestrip PLC\n22 May 2007\n\n\nTIME.L\n\n Timestrip Plc\n\n PRELIMINARY RESULTS FOR THE YEAR ENDED 31 DECEMBER 2006\n\nTimestrip Plc ('Timestrip') develops, manufactures and sells two technologies in\nthe field of time and temperature measurement. The patented Timestrip smart\nlabel monitors for how long perishable food and other replaceable products have\nbeen open or in use. The patent pending iStrip undergoes an irreversible colour\nchange when exposed to freezing temperatures and is designed to indicate that\nthe efficacy of products, such as vaccines, has been compromised.\n\n\nKey points:\n\n• Results in line with the trading update issued 2nd February 2007\n\n• Significant progress achieved towards commercialising Timestrip's technology\n\n• Deals and alliances have been announced during the period under review with;\n • Henkel\n • Whirlpool\n • Curver\n • Plastek\n • CCL Label\n • Hygolet\n • DryandStore\n • PATH\n\n• Advanced discussions and trials underway with other major international\n companies.\n\n• Steady progress across core targeted international markets\n\n\nPaul Freedman, Timestrip's joint CEO, commented:\n\n'During the period under review, Timestrip has achieved some major milestones\nwith a number of international companies looking to adopt the technology. We\nhave seen some encouraging uptake of the technology in the appliance and\nconsumables market, most notably with Whirlpool and with our existing customers\nsuch as Hamilton Beach/Febreze. Alliances with leading packaging companies are\nhelping to accelerate progress in the food and pharmaceutical markets and we are\noptimistic that the deal pipeline currently in place is capable of generating\nsignificant ongoing revenues for the Group. We look forward to updating the\nmarket with further progress in due course.'\n\n\nFor further information:\n\nPaul Freedman, Joint CEO and founding Director, Timestrip 01462 440 700\nShane Dolan, Biddicks 020 7448 1000\nFergus Marcroft, Evolution Securities 020 7071 4300\n\n\n\nTIMESTRIP PLC\nCHAIRMAN'S STATEMENT\nFOR THE YEAR ENDED 31 DECEMBER 2006\n\nThe Company has reached an exciting point in its drive towards widespread\nadoption of its core technology, the Timestrip(R), and has also made excellent\nprogress with its more recent development, the iStrip(R).\n\nDuring 2006 we have conti...