January 21, 2008
eg solutions plc (AIM : EGS) the IT software and services company announces an update on trading for the financial year ended 31 January 2008.
The Board expects revenues to be lower than market expectations which will result in a pre-tax loss for the year.
A small profit had been anticipated based on improved performance in the second half of the financial year. Although costs have been reduced in line with original expectations enabling the company to return to profit in the closing months of the year, revenues from the majority of sales closed in the same period will not be able to be recognised until the financial year ending 31 January 2009.
Although 2007 was an arduous trading year, both the UK and International markets are increasingly more receptive to the company’s offering. The sales pipeline and order book for 2008 is healthy, putting the company in a good position to demonstrate its recovery during the next financial year.
- Ends -
CONTACTS
eg solutions plc
Elizabeth Gooch, Chief Executive Officer
Tel +44 (0) 1785 715772
Brewin Dolphin Brewin Dolphin Ltd (Nominated Adviser)
Richard Evans, Director of Corporate Finance
Tel +44 (0) 845 213 4853
Golley Slater
Katie Dale
Head of Financial PR
Tel +44 (0) 121 384 9743
Mobile +44 (0) 7918 716 754
