Further progress on margins and cash from continuing operations:
O Gross profit up 40.3% on same period last year to #9.389 million. Gross
profit now represents 25.5% of revenues, up from 16.6%, and also up from
23.0% in the 6 months to 31 March 2002.
O Operating loss before goodwill amortisation and impairments reduced by
77.5% to #1.998 million from #8.876 million.
O EBITDA loss reduced by 81.7% to #0.990 million from #5.418 million.
O Revenue increased marginally compared with the 6 month period to 31 March
2002, which, as set out in the Annual Report, was down from the period to
30 September 2001 reflecting management's focus on margin enhancement.
O Operating costs excluding goodwill amortisation and impairments reduced
by 27.0% to #11.567 million from #15.849 million at 30 September 2001.
O Cash balances at 30 September of #10.155 million.
O Borrowings at 30 September of #0.436 million.
OPERATIONAL HIGHLIGHTS
O Increased sales and marketing headcount, during the period, to 102 as at
30 September 2002.
O Order intake improved during the period, with key contract wins notably
in IP telephony systems.
O Awarded Cisco "GOLD" accreditation status.
O Continued reorganisation to improve customer service and efficiency
whilst reducing cost.
O BT Wholesale partnership completed.
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