TIDMIDG
RNS Number : 6800S
i-design Group Plc
22 May 2009
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22 May 2009
I-DESIGN GROUP PLC
("i-design" or "the Company")
Trading Update
At the time of i-design's preliminary results in November 2008, the Company
indicated that despite the prevailing conditions in the banking sector,
discussions with potential retail bank customers remained positive. Since then,
negotiations on major new contracts have been progressing well and the Company
had expected to secure two new banking customers in the current financial year.
However, due to these difficult conditions it is now clear that timeframes must
be revised.
As a result, i-design expects the pre-tax loss for the year to 30 September 2009
to be in the region of GBP1.2 million. However, the Company's balance sheet
remains robust, with net cash at 30 April 2009 of GBP1.7m. The Company has
negligible borrowings.
The Company expects to report its results for the 6 months ended 31 March 2009
on 25 June 2009.
Enquiries:
+----------------------+--------------------------------+------------------+
| i-design group plc | Ana Stewart, Chief Executive | T: 01382 541 041 |
| | Ian Sunter, Finance Director | |
+----------------------+--------------------------------+------------------+
| | | |
+----------------------+--------------------------------+------------------+
| Biddicks | Katie Tzouliadis | T: 020 7448 1000 |
+----------------------+--------------------------------+------------------+
| | Sophie Lane | |
+----------------------+--------------------------------+------------------+
| | | |
+----------------------+--------------------------------+------------------+
| Arbuthnot Securities | Tom Griffiths | T: 020 7012 2000 |
+----------------------+--------------------------------+------------------+
| | Alasdair Younie | |
+----------------------+--------------------------------+------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
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