STEC Shieldtech

    RNS Number : 4314Y
  Shieldtech PLC
  07 July 2008
   

    Shieldtech plc ("Shieldtech" or "the Company")


    Trading Update 

    The Board of Shieldtech, the specialist provider of products and services to the Homeland Security market, today made the following
trading statement following the end of the company's financial year to June 2008.

    "Trading in the six months to June 2008 has shown a significant improvement on the half year to December 2007. The directors predicted
in the Admission Document dated July 2007 that sales in the first half of the year to December 2007 would be depressed owing to the revision
of ballistic measurement standards by the Home Office Scientific Development Branch ("HOSDB"), which delayed procurement by a number of UK
police forces. This restricted level of sales continued initially in the second half of the year to June 2008.  

    The order book has increased substantially in the last quarter. In particular orders have been received from four major UK police forces
amounting to �1.6 million, the total sales relating to these orders in the last quarter is �0.6 million, leaving �1 million to be delivered
in FY2009. A further �0.5 million order from a major overseas defence client will be delivered in FY2009. The group's current order book of
�3.75 million is at its highest for two years.

    Sales in the final quarter improved markedly. Despite this recent recovery, sales in the year to June 2008 were depressed at around �6m
(2007 �11.5m).  The company expects to have incurred operating losses before IFRS non cash charges for the amortisation of intangible assets
and for share based payments for the year to June 2008 of about �0.7 million. (6 months to December 2007 �0.6 million).

    The directors believe that the delay in receipt of orders from police forces arising from the revision of the ballistic measurement
standards has now abated and the directors are confident of a return to profitability during the year to June 2009.


    Shieldtech plc
    Tony O'Neill, Chief Executive                Tel: 07774 698327
      
    Seymour Pierce
    Mark Percy / Nicola Marrin                    Tel: 020 7107 8000


This information is provided by RNS
The company news service from the London Stock Exchange
 
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