Sky High PLC Trading Statement (2054I)
23 Juillet 2012 - 8:00AM
UK Regulatory
TIDMSKHG
RNS Number : 2054I
Sky High PLC
23 July 2012
SKHG
23 July 2012
SKY HIGH PLC
Trading Update
The Board of Sky High plc, the data collection and analysis
group, is pleased to be able to provide a trading update in advance
of the announcement of the results for year ending 31 March 2011.
The results for the year are expected to be announced in the first
week of September. The results are later than last year due to work
required relating to the acquisition of Count on Us that was
announced earlier in the year
After the strong performance in the first half performance, the
second half of the year was, as expected weaker, as some of the
previous operating costs reduction were reversed. As a result, the
group operated at a broadly breakeven position for the second half,
before exceptional costs of the acquisition of the business and
assets of Count on Us. Nevertheless, the overall result for the
year will show a significant improvement on last year and will
confirm the Group's return to profitability on an annual basis.
The current financial year has started well with overall trading
in the first quarter being well ahead of management expectations
and the equivalent period last year. Although performance in
Australia is currently down on management's expectations this has
more than been offset by performance in the UK traffic business
which has been strong and includes a number of synergy benefits of
the Count on Us acquisition in March 2012. Additionally there has
been an increase in market demand driven by infrastructure related
data collection work on both the national road and rail networks
including work on the government's high profile rail and road
investment programmes. The Group is now better positioned to
benefit from this increased market activity following the
acquisition due to its greater geographic presence and operational
resources.
The Department for Transport National Road Traffic Census
Contract continues to perform well and trading in the period has
also benefited from other new business wins including the
previously announced Transport Scotland contract.
Enquiries:
Contacts:
Sky High plc www.skyhighplc.co.uk
Mark Mattison, Chief Executive +44 (0) 1937 833 933
Alex Johnson, Finance Director +44 (0) 1937 833 933
WH Ireland Limited www.wh-ireland.co.uk
Mike Coe / Marc Davies +44 (0) 117 945 3470
This information is provided by RNS
The company news service from the London Stock Exchange
END
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