SKHG Sky High

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RNS Number : 2054I

Sky High PLC

23 July 2012

SKHG

23 July 2012

SKY HIGH PLC

Trading Update

The Board of Sky High plc, the data collection and analysis group, is pleased to be able to provide a trading update in advance of the announcement of the results for year ending 31 March 2011. The results for the year are expected to be announced in the first week of September. The results are later than last year due to work required relating to the acquisition of Count on Us that was announced earlier in the year

After the strong performance in the first half performance, the second half of the year was, as expected weaker, as some of the previous operating costs reduction were reversed. As a result, the group operated at a broadly breakeven position for the second half, before exceptional costs of the acquisition of the business and assets of Count on Us. Nevertheless, the overall result for the year will show a significant improvement on last year and will confirm the Group's return to profitability on an annual basis.

The current financial year has started well with overall trading in the first quarter being well ahead of management expectations and the equivalent period last year. Although performance in Australia is currently down on management's expectations this has more than been offset by performance in the UK traffic business which has been strong and includes a number of synergy benefits of the Count on Us acquisition in March 2012. Additionally there has been an increase in market demand driven by infrastructure related data collection work on both the national road and rail networks including work on the government's high profile rail and road investment programmes. The Group is now better positioned to benefit from this increased market activity following the acquisition due to its greater geographic presence and operational resources.

The Department for Transport National Road Traffic Census Contract continues to perform well and trading in the period has also benefited from other new business wins including the previously announced Transport Scotland contract.

Enquiries:

 
 Contacts: 
 Sky High plc                      www.skyhighplc.co.uk 
 Mark Mattison, Chief Executive    +44 (0) 1937 833 933 
 Alex Johnson, Finance Director    +44 (0) 1937 833 933 
 
 WH Ireland Limited                www.wh-ireland.co.uk 
 Mike Coe / Marc Davies            +44 (0) 117 945 3470 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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