Freepages Group PLC - 1st Quarter Trading Results
29 Januar 1999 - 8:31AM
UK Regulatory
RNS No 8320n
FREEPAGES GROUP PLC
29th January 1999
FREEPAGES GROUP PLC
("Freepages" or the "Company")
1st Quarter trading results
and Internet partnership with Flextech
* Revenue for the 1st Quarter 1999 increased to # 5.35 million up
18 per cent compared to the same quarter last year and up 5 per
cent compared to 4th quarter 1998.
* Significant reduction in Scoot (UK) operating loss to #2.4
million in 1st quarter 1999 reduced by 52 per cent compared to same
quarter last year and reduced by 28 per cent compared to the 4th
quarter 1998. Loss per share amounted to 1.0 pence for the Group.
* Telephone usage increased to 5.6 million up 65 per cent compared
to the same quarter last year and up 12 per cent compared to 4th
quarter 1998.
* Internet usage increased to 24.5 million up 266 per cent
compared to the same quarter last year and up 29 per cent compared
to 4th quarter 1998 and accounted for more than 40 per cent of
overall usage during December 1998.
* Internet partnership with Flextechs wholly owned channel
websites; Bravo, Living, Trouble and Challenge TV. Details are
provided in a separate press release.
* Extension of partnership with Microsoft was announced on 22
January 1999 whereby Scoot internet users can start utilising MSN
Expedia comprehensive travel service.
The results in this release comply with the continuing obligations
imposed by the Nasdaq and London Stock Exchanges and are the first
of a new abridged version of the results for the period. In future
this abridged version will enable the Company to report on its first
and third quarter results in a more efficient and timely manner.
Commenting on todays results, Robert Bonnier CEO said:
"The Company achieved further progress during the seasonally weaker
first quarter in terms of operating efficiencies, revenue, usage and
overall leverage of the branded Scoot network. These encouraging
trends are expected to continue during the rest of the year and
should further benefit from the implementation of our marketing
communication plan starting early March in the Carlton region as
well as from the anticipated new complementary revenue generated
from product, service and partnership agreements."
For further information contact:
Freepages Group plc 0171 368 3900
Robert Bonnier, CEO
Ronald Dorjee, CFO
Miranda Cleverdon, MD Corporate Communications
Buchanan Communications Limited 0171 466 5000
Richard Oldworth
Richard Darby
Review of Scoot (UK) Operations
Q1 Q2 Q3 Q4 Q1 1999 1Qtr Growth
1998 1998 1998 1998 Growth 1Qtr
Year- on-1999-on
Year 4Qtr
1998
Marketing
services
Revenue #m* 3.8 4.1 4.5 4.6 4.6 18% 0%
Subscribers ** 13,400 20,200 26,300 30,400 32,100 140% 6%
Churn (%) - 36% 21% 17% 13% - 24%
EBIT #m (5.7) (4.0) (3.4) (3.2) (2.4) 58% 25%
Telephonic 3.4 4.2 4.8 5.0 5.6 65% 12%
usage (m)
Internet
Revenue #m 0.0 0.1 0.2 0.4 0.6 600% 50%
Subscribers ** 900 1,300 2,200 3,400 5,400 500% 59%
Churn - - - - 10% - -
EBIT #m *** (0.1) (0.3) (0.2) (0.1) 0.0 - -
Internet usage (m) 6.7 12.3 16.5 19.0 24.5 266% 29%
Transactions
Mid-call - - - - -
transfer
Memberships #'000 - - - 50 50
Telecoms - - - - -
EBIT - - - - 0.0
Other
Licensing #'000 - - 200 80 100
Set-up #'000 750 - - - -
Other #'000 - - - - -
EBIT 0.0
* The marketing services revenue was achieved with approximately
15 per cent lower selling days available compared to the 4th
quarter 1998.
** Net paying subscribers at the end of the period are rounded down
to nearest 100
*** Internet costs include production & network related costs as well
as proportional SG&A costs.
Internet Accounting Revenues remain calculated on a monthly basis.
Key Financial Statistics
#m Q1 Q2 1998 Q3 Q4 Q1 1999 1Qtr Growth
1998 1998 1998 Growth 1Qtr
Year- on- 1999-
Year on 4th
Qtr
1998
Total Revenue 4.5 4.1 4.9 5.1 5.35 18% 5%
SG&A* 6.7 6.8 6.8 7.0 6.35 5% 9%
Marketing 2.8 1.5 1.4 1.3 1.40 50% 8%
EBIT UK (5.0) (4.3) (3.2) (3.2) (2.40) 52% 28%
(UK EBIT- (111%) (105%)(65%) (61%) (45%)
revenue ratio)**
International 0.7 1.3 1.0 0.7 0.8*** 14% 14%
Associates
(expense)
Scoot (NL) (0.7) (1.0) (0.6) (0.9) (0.6)
Scoot (B) (0.4) (0.3) (0.9) (1.5) (1.0)
TDS Ltd (0.2) (0.6) (0.3) (0.5) (0.3)
RequesT (0.1) (0.1) (0.1) (0.1) (0.1)
Net cash 24.4 17.4 12.6 6.8 2.5
* SG&A includes cost of sales and excludes marketing and
international costs. Marketing and international costs
are represented separately above.
** UK EBIT (excluding international costs) divided by total
accounting revenue generated during the period.
*** Includes # 100,000 in relation to full listing upgrade.
The first quarter results, which are unaudited have been prepared on
the basis of the accounting policies set out in the Groups 1996/97
Annual report and Accounts. The information presented herein
does not constitute statutory accounts within the meaning of Section
240 of the Companies Act 1985 (as amended).
END
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