(WSI.L) Workplace Systems International PLC Buy/Sell

7.62 +0.00 (n/a%) No change Add to portfolio Set Alert Level 2 Desktop Trader

News

(RNS) 2009-10-09 07:01 Workplace Sys Intnl - Half Year Trading Update
Previous \| Next \| All news for this company
Article layout: raw
RNS Number : 5037A Workplace Systems International PLC 09 October 2009 9 October 2009 WORKPLACE SYSTEMS INTERNATIONAL PLC HALF-YEAR PRE-CLOSE ANNOUNCEMENT AND CUSTOMER WINS IN EUROPE AND THE US Ahead of the announcement of the results for the six months ended 30 September 2009, the Board of Directors of WorkPlace Systems International plc ("WorkPlace" or the "Company") provides the following update on trading. Trading improved significantly during the summer following the disappointing market conditions of early 2009 and the initial months of the current Half-Year. This enabled the Company to reach a break-even position for the first half which represents a significant turnaround since the second half of the previous Financial Year when market conditions caused customers to delay many projects. As indicated at the Company's AGM: RECENT ORDERS FROM NEW AND EXISTING CUSTOMERS INDICATE THAT THE BACKLOG OF PROJECTS FOR WORKFORCE MANAGEMENT SOLUTIONS WHICH BUILT UP DURING THE PREVIOUS NINE MONTHS ARE NOW BEING RELEASED IN THE UK AND EUROPE THE WORKPLACE US OPERATION HAS GENERATED A PROFIT DURING THE HALF-YEAR. THIS FOLLOWS THE US RESTRUCTURING UNDERTAKEN IN LATE 2008/EARLY 2009 WHICH CREATED THE BASIS FOR A GROWING AND PROFITABLE BUSINESS BASED ON THE WORKPLACE SAAS PRODUCT. In addition to these US operational changes, the Board is pleased to announce that its US subsidiary, WorkPlace Systems Inc, has just signed the contract to roll-out the WorkPlace Saas Workforce Management Solution, WorkPlace On-Line, to a major US retailer as a hosted service. The contract was won following a competitive three-month live pilot in 99 of the retailer's stores and the WorkPlace SaaS solution is now being rolled-out across the entire estate of several thousand stores during the current WorkPlace Financial Year. Work on this roll-out commenced in September and the benefits will be recognised during the second half of the current Financial Year and into future periods. WorkPlace's CEO, Barney Quinn, commented: "This is a major step in the development of WorkPlace in both the US market and with our SaaS product and confirms the change in business focus that the Board has adopted through the recent economic upheaval. Our ability to implement fully the hosted solution in 99 stores within a four-week period is testimony to the quality and ease of implementation of our new products by our staff and was critical to meeting the economic and operational requirements set out by the customer." The Company's cash position remains healthy and in line with expectations and the Company remains debt free. Recent progress supports the Board's statement at the time of the AGM that "it remained confident for the Full Year figures" providing this positive trend continues. Enquiries: WorkPlace Systems International plc `Barney Quinn, Chief Executive Tel: 07860 883 847` Paul Wright, Chief Financial Officer Tel: 01908 251 340 Altium `Ben Thorne Tel: 020 7484 4040` Paul Chamberlain This information is provided by RNS The company news service from the London Stock Exchange END TSTFSUFWASUSEES
Previous \| Next \| All news for this company
Article layout: raw