11 August, 2005
Eurovestech plc ('Eurovestech')
Knowledge Support Systems Limited ('KSS') Trading Update
Eurovestech is pleased to report that KSS, a wholly-owned portfolio company,
produced a profit after tax in excess of £950,000 in the year ended 27 June,
2005. This compares to a loss for the previous year of £2.6 million. Turnover
at KSS, which is a leading provider of pricing solutions to retail and
petroleum industries, increased to more than £5 million, against £1.2 million
the previous year.
Additionally, in recent weeks, KSS has reached agreement with several global
retailers to commence trials in the US and Europe and this activity augurs well
for prospects in the current financial year.
Richard Bernstein, Chief Executive of Eurovestech said: 'The achievement of
full-year profitability, combined with a more than four-fold increase in sales,
is an important milestone for KSS. Moreover, both the range and the quality of
recent customer wins provide great confidence in the outlook for the business.'
Further enquiries:
Eurovestech plc
Richard Bernstein Telephone: +44 (0) 20 7491 0770
Chief Executive
END
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