RNS Number : 8891C
NetServices PLC
08 September 2008
EMBARGOED FOR RELEASE AT 0700 on 8 SEPTEMBER
8 September 2008
NETSERVICES PLC
PRE-CLOSE ANNOUNCEMENT & BOARD CHANGE
NetServices Plc (the 'Company') (AIM:NSV), the business-to-business telecommunications
network provider, provides the following trading
update before entering the close period prior to the release of its preliminary results for
the year to August 31 2008, which are scheduled
to be reported in November.
The Company is pleased to announce that it expects profit for the year ended 31 August
2008 to be in-line with market expectations,
after margins were maintained and outstanding payments were recovered from certain customers.
We continue to be engaged in discussions with prospective partners. However, the difficult
economic conditions that many companies are
experiencing means that sales cycles are lengthening and contracts are taking longer to
convert, increasing the uncertainty surrounding the
timing of new business revenues. We would expect to provide further guidance and an update on
current trading and outlook at the time of the
release of our preliminary results in November.
Board Change
Separately, the Company announces that Philip Wedgwood has resigned from the Board with
immediate effect and has left the Company to
pursue fresh career opportunities.
Mark Vickers, Chief Executive of NetServices Plc, said:
"Philip has made an important contribution to the Company. In particular, he has helped to
secure key partnership opportunities in-line
with our stated strategy. I wish to thank Philip for all of his efforts over four years with
the Company and wish him well in the future."
Meanwhile, the Company is pleased to report that it has appointed Paul Foley, 43, as
Director of Sales & Business Development. Paul
joins from O2 UK Ltd where he spent four years as Head of Sales, leading the Business Sales
division in the North of England. Paul has more
than 20 years' experience in the business sales arena, and will add considerable strategic
value in partnership and business development as
we focus on the SMB market.
Mark Vickers added:
"Paul's considerable experience at leading a sales division and in particular, his proven
record in sales execution, will bring added
strength to the Company as we continue to make progress."
ENDS
For further information, please contact:
NetServices plc Tel No: 0870 753 0900
Mark Vickers, Chief Executive
Ian Winn, Finance Director
Arbuthnot Securities Limited Tel No: 020 7012 2000
Tom Griffiths
Alasdair Younie
MC2 (Manchester) Limited Tel No: 0161 236 1352
Samantha Lafferty
This information is provided by RNS
The company news service from the London Stock Exchange
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