@UK PLC Trading Update (4136T)
December 13 2012 - 1:00AM
UK Regulatory
TIDMATUK
RNS Number : 4136T
@UK PLC
13 December 2012
Embargoed for 7:00am release 13 December 2012
@UK PLC
("@UK" or the "Company")
Trading Update
@UK PLC (AIM:ATUK.L), the cloud ecommerce marketplace, announces
that it is moving into a cash generative position despite a timing
delay in the recognition of approximately GBP1m of revenue for
contracts both ongoing and won. This revenue is now expected to be
recognised in the first quarter of 2013. As a result of these
timing factors, an increased investment in UK and international
sales activities, and a decrease in the non-core Company Formations
part of the business, results for the year ending 31 December 2012
will be materially below market expectations and slightly below
those reported for the year ended 31 December 2011. The Board
stresses that this is not lost revenue, rather revenue that has
been marginally delayed and therefore falling into the subsequent
year.
The Board remains very encouraged by the initial successes in
its newly-formed foreign business ventures in Australia and
elsewhere abroad, with several significant contract opportunities
in discussion. The newly-formed UK sales team is also gathering
momentum, accounting for approximately GBP800,000 of the revenue
now expected to be recognised in the early part of 2013. The Board
is therefore confident that @UK remains sufficiently funded and
will achieve accelerated growth in the year ahead and beyond.
Ends
Enquiries:
@UK PLC Tel: 0118 963 7000
Ronald Duncan, Chairman
Westhouse Securities Limited Tel: 020 7601 6100
Tom Griffiths/ Richard
Johnson
Newgate Threadneedle Tel: 020 7653 9850
Caroline Evans-Jones/
Alex White
Notes to editors
@UK is Europe's leading Cloud Platform with over 1 million
users, which is used for University and College's procurement along
with NHS, Local Authority, Schools and other Government and Private
sector procurement and ecommerce.
@UK is included in the Software and Computer Services Sector
(9530).
For further information please visit the @UK PLC websites
Investor Site http://www.uk-plc.net/invest
Main Site http://www.uk-plc.net
SpendInsight Site http://www.spendinsight.com
GreenInsight Site http://www.green-insight.com
Hybrid Carbon Footprint Site
http://www.hybridcarbonfootprint.com
Cloud-Start-Up.com http://cstartup.com
2012StartUp.com http://www.2012Startup.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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