Crimsonwing plc – Approval of Consolidated Annual Financial Statements

July 26, 2011

Crimsonwing plc announced that at a meeting of the directors, the annual statements for the year ending 31 March 2011 were approved.

Revenue for the financial year amounted to EUR 14.3m, a rise of 16.5 per cent over the previous financial year. Profit before tax also increased to EUR 217,572, compared to the profit of EUR 52,071 in 2010.

The directors commented that “during the period April 2010 to March 2011 the market conditions have continued to be challenging. The recovery in the UK in particular has been weak, and there has been continued pressure on pricing and debt recovery. Nevertheless, Crimsonwing achieved excellent revenue growth in the period, recording its highest ever revenues at EUR 14.3m, that is 16.5% higher than last year (2010 – EUR 12.28m). This is all organic growth and demonstrates how Crimsonwing has made good progress in tough market conditions.”

To view the official announcement, Click Here.

To view the Annual Financial Statements, Click Here.