6pm Holdings plc
6pm Holdings plc
On Thursday 27th November, 6pm Holdings plc issued an Interim Directors’ Statement whereby it was stated that following the Company’s Half‐Yearly Report in August 2008, where it was suggested that the promised 1st half year performance may persist for the remainder of the year, as anticipated, they increased the order book substantially, particularly in relation to Public Sector activities.
However 6pm has been affected by the current conditions in the UK economy which are leading to the postponement of work starting. Although in the remaining weeks to the end of this financial year, a few of these orders could still come to fruition, if these are also postponed 6pm will commence this work in the first 3 months of 2009 and move into next financial year with its strongest order book yet. However the Company has been negatively affected by the rate of exchange between the euro and GPB as well as escalating logistics costs. The Company is therefore taking appropriate measures to limit the impact on its profitability.
These include the redistribution of work delivered from the UK and Malta and the optimisation of resources. The company continues to build upon its strategy of vertical alignment and the creation of specialism. In the current recession the board of directors is confident that this strategy will be essential for client growth, the achievement of economies of scale in delivery and will allow 6pm to maintain premium sales rates to protect its revenues and margins.
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