Ten Alps PLC Trading Update (4011Y)
May 17 2016 - 2:00AM
UK Regulatory
TIDMTAL
RNS Number : 4011Y
Ten Alps PLC
17 May 2016
17 May 2016
Ten Alps Plc
("Ten Alps", the "Company" or the "Group")
Trading Update
Ten Alps, trading as Zinc Media, the TV and multimedia content
producer, provides the following update on trading.
Whilst the Company does not yet have total visibility on its
full year results, the Directors believe that the Company will fall
materially behind market expectations for the year ending June
2016. The Group has continued to sustain losses in certain parts of
its publishing operations, the turnaround of which has taken longer
than expected. These continued losses are likely to result in the
Group not being profitable for the year as a whole, albeit the
Directors do expect some improvement on the losses recorded in
FY15. The Company is in advanced stages of discussion on the
disposal of certain areas of its publishing business and action is
being taken to restructure and refocus the remaining parts of the
division.
The Group's television and communications businesses are
operating profitably, however the television division was impacted
by delays in commissioning, which affected the entire industry.
Reef, the Group's recent acquisition, is trading well.
The Company expects to provide a further update in due
course.
For further information please contact:
Ten Alps Plc +44 (0) 20 7878 2311
Mark Wood, CEO
David Galan, CFO
c/o Emer Donohoe
www.zincmedia.com
N+1 Singer (NOMAD and Broker to Ten Alps) +44 (0) 20 7496 3000
Shaun Dobson / Lauren Kettle
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTBIGDULDBBGLL
(END) Dow Jones Newswires
May 17, 2016 02:00 ET (06:00 GMT)
Zinc Media (LSE:ZIN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Zinc Media (LSE:ZIN)
Historical Stock Chart
From Apr 2023 to Apr 2024