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AGM Statement – 150% increase in first 2 months revenues

24th June 2004 · Investor News

AGM Statement – 150% increase in first 2 months revenues

The year has started strongly with revenues for the first two months 150% ahead of the same period last year. The web services business now has 41,000 customers and continues to grow organically at a rapid rate.

Consolidation in the web services sector is accelerating which shows that the market is increasingly recognising the value of customers paying repeat annual fees.

A new direct sales office will open in Blackpool in August with the twin objectives of increasing web services sales and selling Netintelligence into the SME market. Netintelligence Version 4 is recognised as having unique capabilities around zero day threats and we are seeing growing demand for our email filter module.

The sales pipeline is substantial and we remain confident of making significant sales in this financial year.

The proposed reduction in the share premium account has been agreed and subject to the approval of the court will make the distribution of dividends possible as and when appropriate

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