Interim Management Statement
(Thomson Reuters ONE) - DRS Data & Research Services plcDRS Data & Research Services plc ("the Group") announces its InterimManagement Statement for the period from 1 January 2009 to date.Revenues for the ten months to 31 October 10 month period ended 10 months ended Change 31 October 2009 31 October 2008 £'000 £'000 %Education revenue 11,445 11,026 3.8Non-education revenue 1,436 3,669 (60.9)Total revenue 12,881 14695 (12.3)It was announced in the interim results released on 26 August 2009that the Group's performance in its education markets was strong andprofitable but that the Group was underperforming in its othermarkets. This pattern has continued into the second half of the yearand while contracts have been won in the non-education markets, mostof the revenues resulting from these contracts will not be receiveduntil the next financial year. As a consequence of the continuedunderperformance in 2009 in the Group's other markets the results forthe year ending 31 December 2009 will be below market expectations.Stringent control of costs and cash continues to be a focusthroughout the Group. Despite the trading losses incurred in the yearto date, the Group's current cash holdings are similar to the startof the year.Education marketsThe volume of examination scripts processed during the summer for theGroup's major UK customer, AQA, was 11% higher than in 2008 and wasaccompanied by significant year-on-year productivity improvements.Volumes for the AQA November examination series are also expected tobe higher than in 2008.In Africa, sales into the education market in the first 10 months areahead of full-year 2008. A project to introduce e-Marker® to oneAfrican awarding body has begun and the potential for its wider usein Africa is substantial.Meanwhile, e-Marker® pilots have commenced in the Caribbean and Asia.We remain confident about the prospects for e-Marker® and arecontinuing to invest in it accordingly.Non-education marketsNotwithstanding the difficult nature of the commercial and censusmarkets, we have been successful in winning the contract for thePakistan census. Expectations at the half-year were that much of thework for this contract, were it to be won, would be completed thisyear but the current customer requirements mean that most of therevenue will not now be recognised until 2010.The US market for DocXP(TM) continues to be very difficult, howeverPeladon Software Inc has made strategic progress by signing twosignificant distributor agreements which will give it access to theUS healthcare market.OutlookThe Directors still expect that the business will be profitable inthe second half of 2009, not least because the majority of the fullyear revenue from e-Marker® was recognised in the third quarter.However, due to the underperformance and customer delays in theGroup's non-education markets, the results for the year ending 31December 2009 will be below market expectations.Enquiries to:Sally HopwoodCompany SecretaryTel: 01908 666088enquiries(at)drs.co.uk---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 27.11.2009 - 12:31 Uhr
Sprache: Deutsch
News-ID 8952
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