DATE: 13 June 2006
In the year to date, Business Direct has built on the step change in the size of the business achieved in 2005. New contract wins include Bayer, Dresser Wayne and Fujitsu. Management accounts for the four months to 30 April 2006 indicate a much improved financial performance. Accordingly, the Board now expects that, in the half year to 30 June 2006, turnover will increase by approximately one-fifth, which is broadly in line with budget. In the second half, the Board is expecting further growth, as the Company moves towards breakeven. ParcelXchange growth continues to be encouraging and turnover of ParcelXchange for the half year to 30 June 2006 is expected to exceed that for the whole of 2005 - £1.7m, itself up from £0.4m in 2004. Derek O’Neill has been working with the Company as a consultant since February 2006 and has undertaken a full review of the 2006 budget. In light of this review and despite the progress that the Company has made in the year to date, the Board no longer expects the pace of growth to be sufficient to meet the somewhat challenging market expectations of the result for the year to 31 December 2006. The results for the half year to 30 June 2006 are expected to be announced in early September 2006.
For Further Information: Alison Brindley
Head of Marketing
Business Direct plc
T: +44 (0) 7962 649 629
E: alison.brindley@bdpx.com
| For Media Enquiries: Alison Brindley,
Head of Marketing, Business Direct Group plc +44 (0)7962 649 629 or +44 (0)1788 821 228. alison.brindley@bdpx.com For supporting text and image files: Rachel Parry, Marketing Executive, Business Direct Group plc +44 (0) 1788 821 235 rachel.parry@bdpx.com |
