Ultima Networks plc
Ultima Networks plc (`Ultima' or the `Company') which operates profitably
through two divisions: IT and Related Services and Other Products, these
activities include application software to the legal profession and the
development and sale of consumer and specialist electrical goods, announces a
Although the Company will not benefit from the one-off profit on disposal of
property, as it did in 2006, the Company is pleased to report excellent progress
at the operating profit level during the second half of the year and, in
particular, the improved trading performance of the Other Products division.
In the IT and Related Services division, the Company has maintained its
competitive position through a process of continual product enhancement and
first class customer support.
The Other Products division, which now accounts for approximately 55% of Company
sales through predominately three types of consumer products developed in house,
has continued to perform well. Management is particularly encouraged by the
demand being seen for its comprehensive ranges of energy saving lamps and
`PowaCycle' branded electric bicycles.
The appointment of Richard Bearpark as a non executive director last October
signalled the Company's intention to grow through acquisition and thereby
utilising the strong balance sheet position. Potential acquisition targets
remain under consideration.
The Company looks forward to announcing its preliminary results for 2007 in
11 January 2008
Ultima Networks plc +44 (0) 1279 821 200
Robert Piper, FD
Nexus Financial Ltd +44 (0) 207 451 7068
Nicholas Nelson/John Mundy Nicholas.email@example.com
Blomfield Corporate Finance Limited +44 (0) 207 512 0191