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Interim Results For The Six Months Ended 31 December 2010

18/03/2011

Regenersis plc

Interim Results for the six months ended 31 December 2010

Regenersis plc (LSE AIM: RGS) (“Regenersis” or the “Group”), a strategic outsourcing partner to many of the world’s leading consumer technology companies, is pleased to announce interim results for the six months ended 31 December 2010.

Financial Highlights

  • Group revenue increased 5.8% to £60.3 million (2009: £57.0 million):

            o   At constant currency, revenue increased 7.2% 

  • Headline operating profit(*) increased to £3.2 million (2009: £2.7 million):

            o Includes £0.3 million profit on sale of European mobile recycling business

  • Headline operating margin higher at 5.4% (2009: 4.7%):

            o Increased profit contribution from Media & Entertainment segment

  • Group operating profit increased 94% to £2.9 million (2009: £1.5 million)
  • Profit before tax increased 168% to £2.8 million (2009: £1.0 million)

            o Improved operating performance and no exceptional costs in this period. 

  • Operating cash flow increased to £0.7 million (2009: £0.3 million)

            o Includes impact of £1.0 million cash cost of exiting European mobile recycling business and a £1.7 million investment in working capital to support business growth

  • Net debt position remains stable at £4.4 million (December 2009: £4.7 million. June 2010: £4.0 million)

(*)  Headline operating profit excludes exceptional restructuring costs, amortisation of acquired intangible assets and share-based payments

Regenersis’ Executive Chairman, Matthew Peacock, commented:

“With new Board leadership in place we are now undertaking an operational and strategic review, the outcome of which will be reported before the financial year end in June.  In my first interim statement as Chairman I would like to thank all our employees for their hard work in delivering an improved revenue and profit performance in this first half of the year.”

For a full copy of the statement, please click here.

For further information please contact:

Regenersis plc +44 (0)1865 471900

Matthew Peacock, Executive Chairman

Jeremy Wilson, Chief Financial Officer

 

Arden Partners plc +44 (0) 121 423 8900

Steve Douglas

 

Financial Dynamics +44 (0)20 7831 3113

Matt Dixon / Nicola Biles / Charles Palmer

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