Computer Software Group PLC
25 May 2005
25 May 2005: embargoed for 7:00am
Computer Software Group plc
Computer Software Group plc, ("CS Group" or the "Company"), the AIM-listed niche
IT software consolidator, is pleased to update the market on its trading
expectations for the year ended 28 February 2005.
Following a successful two year period of consolidation in the Business
Solutions, Not For Profit and Field Services sectors, CS Group now has three
divisions offering integrated software solutions to mid-market companies and
organisations in these business areas. The Company has focused on building up
dominant positions in niche markets and has acquired a high quality, long-term
customer base with significant cross-selling opportunities.
The Company expects its preliminary results, set for the last week of June, to
show increased turnover of around £14m (2004: £6.3m) and improved profitability
of around £2m before finance costs, tax and goodwill amortisation (2004: £0.6m)
derived from both organic growth and the extraction of acquisition synergies.
Michael Jackson, Chairman of CS Group, commented:
"The results for the second half of the year reflect a very satisfactory trading
performance from both the underlying business and the four acquisitions that we
completed during the year. The Board is committed to enhancing shareholder
value and is confident that the Company will continue to grow profitably, both
organically and acquisitively, by a combination of vertical specialisation and
horizontal product offerings, providing a strong business model with significant
current and future value."
CS Group 020 8879 3939
Michael Jackson, Chairman
Vin Murria, CEO
Barbara Firth, CFO
Financial Dynamics 020 7831 3113
Giles Sanderson / Juliet Clarke
This information is provided by RNS
The company news service from the London Stock Exchange