Immediate Release: 18th May 2004
Toad Group plc
AGM Trading Statement
I am pleased to report that current trading is in line with expectations. The
key organic growth areas we are looking to in 2004 are:
i. The continued growth of our hands-free kits installation service to the
UK's leading network providers.
ii. Expansion of the product range of Datatool, our motorcycle alarm and
accessory business and development of opportunities in overseas markets.
iii. The Vehicle Inspection Service (VIS) project.
iv. Insurance replacement of cameras and computers.
We have geared up our engineering resource to meet the forecast demand from the
network providers to whom we provide hands free installation services in
anticipation that they will meet their commitments to volume for the remainder
of the year. This volume is expected to increase significantly in the second
half of the year.
The new product range which includes, ground anchors, locks and chains, battery
chargers and micro-chip tagging devices have been well received by the market.
In addition, we are anticipating delivery of the first Reevu motorcycle helmets
in the next few weeks. We have appointed distributors for Datatool products in
Italy and Spain and are in early stage discussions with a potential US
distributor. Datatool had its best sales month in April and sales are expected
to grow over the next few months as we enter the key motorcycle sales period.
The second wave of trials is now underway with the first trial companies
considering moving to contract.
Insurance replacement of cameras and computers
We continue to grow this business as we cultivate our existing and new
relationships with the insurers and improve the way in which we operate in this
In addition to these organic growth opportunities our acquisition search
Finally, I would like to take this opportunity to thank our shareholders for
their support and the staff of Toad Group and all our business partners for
their contribution in the first part of 2004.
18 May 2004
For enquiries please contact:
Finance Director, Toad Group plc
Tel. 020 8710 4016
Adam Reynolds / Andrew Tan
Tel. 020 7245 1100