News
Regenersis Half Year Trading Update
Regenersis plc (AIM:RGS) (“Regenersis” or the “Group”), a strategic outsourcing partner to many of the world’s leading consumer technology companies, gives the following update on trading for the six months ended 31 December 2011.
The good start to the financial year, announced at the Annual General Meeting on 29 November 2011, has continued. The Group expects to report strong, double digit growth in both revenue and operating profit over the same period last year. This underpins the Board’s confidence in the Group’s ability to meet its expectations for the year. This positive view on future trading performance is despite the uncertain outlook for the European economy and the weakening of both the Euro and the Polish Zloty.
The largest increase in profitability has been seen in Western Europe, where the UK has responded strongly to the cost cutting and restructuring initiative carried out in 2011 and Germany has benefited from the signing of a significant new contract.
Group-wide growth has been driven by several significant new contracts gained over the last year in many of the geographies in which the Group operates, including identified growth markets such as South Africa and Turkey, as well as in the UK and Germany. These contracts have been secured with major international clients such as RIM, HTC, Nokia, Wincor Nixdorf and Intermec.
Regenersis is also pleased to confirm the signing of a significant contract with Virgin Media for the roll-out of our diagnostic In-Field Testers for set top boxes with their field force of service engineers. This contract is the conclusion of extensive development, by Regenersis, targeted at improving the customer experience for Virgin Media customers. The contract includes both the supply of the In-Field Testers and a licence agreement for their use.
Regenersis will report Interim Results for the six months ended 31 December 2011 on 13 March 2012.
Matthew Peacock, Executive Chairman of Regenersis, commented:
“We are pleased with progress and particularly pleased with the Virgin Media contract which is a global first in diagnostic technology for Set Top Boxes and further develops the technology base for our Advanced Solutions business.”
