Trading update AND
(Thomson Reuters ONE) -
AND raises turnover and profit targets for 2010
Commercial success boosts revenue growth
Rotterdam, 18 November 2010 - AND International Publishers NV has experienced a
good third quarter of 2010. Thanks to commercial success from Digital Maps
sales, the quarter was better than expected. This has led to an increase of our
turnover target for entire 2010 to at least ? 6.9 million, from an earlier
expectation of at least ? 6.7 million. Net profit is expected to be at least ?
2.4 million for 2010, from an earlier ? 2.3 million expectation.
In 2009 AND realized a turnover of ? 5.0 million and a ? 1.5 million net profit.
The third quarter of 2010 was very good commercially, which was strengthened by
the signing of a contract with CosmicNavigation. This navigation company now has
access to all Navigation Maps of AND. CosmicNavigation will use AND's maps of
Western Europe with specific Points of Interest for navigation, route planning
and location information.
The cooperation with Navmii, which started in the spring of 2010, has been
intensified, which has led to the availability of 22 iPad and iPhone navigation
products for navigation. Up till now the applications have been downloaded over
150,000 times.
Western Europe is completely covered by AND with high quality Navigation Maps.
In the third quarter the map of Ireland was completed and added to the database.
AND has also completed its coverage of North America with the addition of a map
for Canada.
Recently the act of the amendment of the articles of association has passed.
This amendment contained the reduction of the nominal value of the AND shares.
Because of the lowering of the share capital it is easier for AND to pay
dividend, because the company's equity will rise faster above the issued share
capital and the legal and statutory reserves. This change has been adapted by
Euronext.
Chief Executive Officer Maarten Oldenhof is satisfied with AND's third quarter.
'We have made significant progress as supplier of high quality Navigation Maps.
The success of our cooperation with Navmii and CosmicNavigation proves that our
clients are very happy with the quality of our maps. We are now in talks with
other companies about possible cooperation.'
AND provides Digital Maps for location-based services and is the only
independent company in the global mapping market. The company focuses on the
further development of its advanced Digital Maps to position itself even more
effectively in the market.
This is a translation of the Dutch press release. In the event of any
discrepancy, the Dutch version will prevail.
For more information
Contact: Maarten Oldenhof (CEO), Tel.: +31 10 8851200 or check www.and.com.
[HUG#1463643]
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Source: AND International Publishers via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 18.11.2010 - 07:39 Uhr
Sprache: Deutsch
News-ID 48887
Anzahl Zeichen: 3652
contact information:
Town:
Rotterdam
Kategorie:
Business News
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