Trading Update

RNS Number : 1435F

Baydonhill PLC

12 June 2012

 



12 June 2012

Baydonhill PLC

("Baydonhill" or the "Company")

Trading Update

Baydonhill (AIM: BHL), one of the UK's leading foreign exchange specialists, provides a brief update on trading for the year ended 31 March 2012.

Unaudited turnover for the year to 31 March 2012 was in excess of £1billion, gross profit was approximately £5.5m before exceptional items and the Company expects underlying trading profit to be in the region of £300,000, in line with the underlying profit of £300,000 reported last year. The Company believes this is a robust outcome in light of the challenging trading environment in the second half of the year. Theresults for the year ended 31 March 2012 will also include exceptional charges of approximately £800,000 partly related to IFRS accounting adjustments being reversed from prior years and partly due to the costs incurred in connection with exiting certain categories of business in line with the Board's strategy.

Despite continuing market volatility the business continues to increase sales, has made significant progress to improve the quality of its revenue streams to enhance its margins and the Board is confident it is in a position for future profitable growth.

Full preliminary results are expected to be announced in September2012.

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Enquiries:

Baydonhill PLC
Eric Peacock, Chairman Wayne Mitchell, Chief Executive	[phone]
Merchant Securities Limited
Simon Clements/David Worlidge	[phone]
Square1 Consulting Limited
David Bick/Mark Longson	[phone]

 

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