Volex plc VLX Half year results to the 30th September showed a solid performance with organic growth of 48% in underlying operating profit. This is all due to a rejuvenated management team with a clear strategy opines the Executive Chairman. With a continuing strong sales pipeline, the Board expects full year trading performance will be slightly ahead of market expectations.
Mobile Streams plc MOS Saw revenue collapse to £3m in the year to the end of June compared to last years £5.7m. The company ascribes this as being mainly due to ongoing challenges in the Company’s core market of Argentina.The loss before tax improved from £1.5m to £0.9m and the EBITDA loss fell from £1.48m to £1.2m due to expansion in India. Management was able to stabilize global revenue and margins in the second half of the financial year, despite currency depreciation in Argentina and India. Challenging trading conditions are continuing in Argentina and revenues in India have been impacted by a fall in revenue as a new competitor is awaited in the mobile market. The Board still believes that India remains the largest opportunity for the Company to deliver growth.
Urban Exposure plc UEX updates that it has experienced positive trading momentum, since its admission to AIM on the 9th May. with continued growth and strong demand from developers seeking finance. However the method by which this is being executed will produce lower immediate profits than expected with significantly reduced income in the short term but strong growth in the medium term.