@UK | Trading Update | RNS
For Immediate Release 21 January 2011
("@UK" or the "Company")
@UK PLC, the AIM-traded provider of eProcurement and eCommerce software, is pleased to give an update on trading for the year ended 31 December 2010.
As previously announced, the year just completed has seen the launch of the Company's new eMarketplace, bringing together thousands of suppliers and public sector bodies; the launch of its unique Green Marketplace, enabling suppliers to accurately carbon footprint each of their products for a cost significantly lower than previously possible; the initiation of partnerships with Google and Barclaycard; and the raising of an additional £265,250 in January to assist with marketing to public sector organisations.
At the half year, we stated that our markets were about to improve significantly as the Public Sector actively looks to achieve the savings our product set can quickly identify and help realise. During the second half year, we have seen a significant up-turn in enquires and pipeline but this did not translate into orders for our Spendinsight, Marketplace and Procurement products and the Directors now expect these orders to be reflected in the coming year.
In spite of this delay overall trading during the year has been in line with market expectations.
Ronald Duncan, Executive Chairman of @UK, commented, "2010 was a pivotal year for @UK, during which we enhanced our product offering, targeting new verticals such as the University sector and extended our market reach through partnerships with Google and Barclaycard. Our proven ability to quickly identify savings using our SpendInsight system and then quickly deliver millions of pounds in savings to the public sector through the implementation of correct eProcurement systems using our cloud ecommerce technology means we are well positioned to assist these bodies in meeting their cost-saving obligations.
"We have established the Company as the global market leader in the assessment of product-level carbon footprints, measured by number of products, by making product carbon footprint assessment affordable through our unique Green Marketplace platform.
"We therefore believe 2011 to be an exciting year for @UK as we help the Government deliver its savings objectives in an environmentally friendly manner".
The Company will be announcing final results on 23 March 2011.
Tel: 0118 963 7000
Beaumont Cornish Limited
Tel 0207 628 3396
Caroline Evans-Jones, Alex White
Tel 020 7653 9850
Notes to Editors
@UK PLC provides secure cloud based eCommerce, eProcurement and email services to business and the public sector with over 1 million users.
@UK provides a secure internet eMarketplace enabling buyers such as local authorities, schools and hospitals to buy online from commercial suppliers ranging from large corporations to small to medium enterprises. This allows buying and selling to take place with no paperwork and a reduced chance of errors through transposition, achieving major savings throughout the supply chain.
@UK has a key competitive advantage as an eCommerce based marketplace as it ensures that prices are correct from requisition through to payment, where catalogue based marketplaces are unable to support carriage, complex pricing and configurable products.
@UK is included in the Software and Computer Services Sector (9530). For further information please visit www.uk-plc.net
This information is provided by RNS