Trading Update
January 10 2008 - 2:01AM
UK Regulatory
RNS Number:4599L
Horizon Technology Group PLC
10 January 2008
Horizon Technology Group plc
Dublin: HOR.I London: HOR.L ADR: HZNTY
Trading update and release of preliminary results
10 January 2008: Dublin & London
Horizon Technology Group plc, a leading system integrator and distributor of
information technology products in the UK and Ireland, is pleased to provide a
year-end trading update and announce that it intends to release preliminary
results on 13 March 2008.
Horizon's revenue, which has become increasingly weighted towards the end of
each quarter, was lower than expected in December, partly due to orders slipping
into 2008. The directors anticipate that diluted adjusted EPS in 2007 will show
single-digit growth.
The directors consider that the group's bad debt provisions need to be
strengthened by Euro0.8 million to reflect an exposure to a significant UK customer
whose business has gone into Administration.
The group has performed ahead of expectation in terms of cash generation and
market share growth. Having generated approximately Euro11 million of cash flow in
2007 and with net cash at 31 December 2007 of approximately Euro4 million, the
group is in a very strong financial position.
For further information please contact:
Horizon Technology Group plc
Cathal O'Caoimh, Chief Financial Officer 353 1 620 4900
K Capital Source
Mark Kenny/Jonathan Neilan 353 1 631 5500
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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