RNS Number:1471X
Horizon Technology Group PLC
19 January 2006



                          Horizon Technology Group plc

                Dublin: HOR.I     London: HOR.L     ADR OTC:HZNTY

                    Trading update and results notification

                                              18 January 2006, London and Dublin

The board of Horizon Technology Group plc, a leading system integrator and
distributor of information technology products in the UK and Ireland, is pleased
to confirm that turnover and operating profit for the period to December 2005 is
in line with current market expectations.

The board expects that two exceptional items of a one-off nature with a total
value of Euro2m will be charged to the consolidated income statement in 2005.

   * The group's distribution division expects to reach agreement with a
     supplier to refund approximately Euro1.2m that was incorrectly paid by the
     supplier in 2003 and 2004. This refund relates to amounts that were passed
     on to the division's customers in the form of price discounts.

   * Following the loss of a tenant in one of the group's leasehold
     properties, the group has sub-let the space to a replacement tenant. While
     rent deposits held by the group were sufficient to ensure that no bad debt
     was incurred, the vacancy period before a new tenant was found combined 
     with rent-free incentives and transaction costs amounted to Euro0.8m.

Horizon will release full year results for the year ending December 2005, at
07.00 (GMT) on Thursday, 9 March 2006. A conference call with investors and
analysts will also be scheduled for that date.

Gary Coburn, Chief Executive Officer, said: "Horizon has had seven consecutive
periods of earnings growth and continues to meet market expectation. The group
is a strongly profitable, cash generative group with sustainable competitive
advantages and significant operational leverage opportunities."


ABOUT HORIZON

Horizon Technology Group plc is a leading technical integrator and distributor
of information technology products in the UK and Ireland. For more information
about Horizon Technology Group plc, visit www.horizon.ie

FURTHER INFORMATION

Enquiries to Mark Kenny or Jonathan Neilan of K Capital Source at +353-1-631
5500 or horizon@kcapitalsource.com.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
TSTFVLLFQFBBBBK
Horizon Technology (LSE:HOR)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Horizon Technology Charts.
Horizon Technology (LSE:HOR)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Horizon Technology Charts.