SCO Scotty Grp

TIDMSCO

RNS Number : 0577D

Scotty Group SE

10 May 2012

10 May 2012

SCOTTY Group SE

("SCOTTY" or the "Company")

Trading Update

SCOTTY, the video telecommunications equipment and technology group with a focus on the government, defence and aviation markets, is providing the market with a further update on the Company's progress in advance of the readmission of SCOTTY's shares to trading on AIM on 11 May 2012.

In our trading update announced on 24 January 2012, we commented that negotiations on some contracts were not yet finalised, with the result that deliveries for those contracts had been delayed from 2011 and were expected to benefit 2012 revenue instead. We can report that these negotiations have been progressing satisfactorily but are continuing to take longer than expected. As a result, trading so far in 2012 has, for the most part, not yet started to reflect the revenue from these contracts and has therefore fallen short of management's expectations for the year to date. However, based on the current state of our contract negotiations, the Board remains confident that the Company will meet market expectations for the 2012 financial year as a whole.

We are making considerable progress in our strategic objectives of reorganising and rationalising the group and its distribution channels, in order to reduce the Company's operating costs. As previously announced, we surrendered the lease of our Bristol property in February 2012 and SCOTTY's registration in Austria was confirmed in April 2012.

Enquiries:

 
 SCOTTY Group SE 
  Kurt Kerschat, CEO                    +43 316 409 426 
 Nominated Adviser 
  Cairn Financial Advisers LLP 
  Tony Rawlinson / Avi Robinson         +44 20 7148 7900 
 Broker 
  Northland Capital Partners Limited 
  Katie Shelton                         +44 20 7796 8800 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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