Synstar PLC
6 September 2000
Synstar Plc
Trading Update 6th September 2000
Synstar, the pan-European provider of IT Services, today announced that the
industry slowdown discussed with its half year results continues to impact
many areas of the Group's activities, in particular Product sales and Network
and Data Management projects.
As a result the Board expects operating profit before goodwill amortisation
for the full year ending 30th September 2000 to be in the region of £10m,
which is at the lower end of analyst expectations.
The Board remains confident that Synstar's high percentage of long-term
contract revenues, strong balance sheet and pan-European presence give it an
excellent platform for future growth in the IT Services market.
The Board has noted the recent rise in its share price and speculation in a
recent press article suggesting that the Company may have received an approach
concerning an offer for the Company. The Board wishes to confirm that it has
received no such approach.
Further information:
Synstar Plc
Richard Ferre, Chief Executive Officer
Stephen Gleadle, Finance Director (01344) 662 700
GCI Financial
Roger Leboff / Nick Lambert / Geoff Callow (020) 7398-0800