News
Preliminary Results for the year ended 30 June 2007
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Cashbox (AIM:CBOX), the independent Automated Teller Machine ("ATM") deployer and operator, announces its preliminary results for the year ended 30 June 2007.
John Maples, Chairman said
"2006/07 has been a transformational year for Cashbox. As a result of changing funding partners and executive management, the underperforming business of much of the year, has evolved into a predictable, consistent, execution focused company, with a clear strategy for growth and future profitability".
| Year ended 30 June 2007 |
Year ended 30 June 2006 |
|
| Machines installed at period end | 1,442 | 1,058 |
| Turnover £000 | 4,380 | 3,159 |
| Gross Margin % | 27% | 29% |
| EBITDA *+ £000 | (3,510) | (2,048) |
| Loss on ordinary activities before exceptionals* | ||
| £000 | (4,056) | (2,458) |
| Loss on ordinary activities after exceptionals | ||
| £000 | (6,741) | (3,637) |
| Loss per share before exceptionals*(pence) | (6.3) | (5.8) |
| Loss per share after exceptionals (pence) | (10.5) | (8.5) |
| Net debt £000 | 855 | 315 |
* exceptional items are £2,000,000 and £685,000 in year ended 30 June 2007 relating to litigation settlement costs and lease termination costs respectively and £1,179,000 in year ended 30 June 2006 relating to listing and share option costs.
+ EBITDA is defined as Earnings before interest, tax, depreciation and amortisation, share based payments and exceptional items, (see note 11).
Highlights
- Installed estate increased to 1,442 despite difficulties with lease provider during year; increasing installed estate market share (of surcharging IADs) from 4.2% to 5.7%, with a smaller growth from 1.4% to 1.5% share of the total IAD transaction volumes market.
- Turnover up 39% from last year.
- Loss on ordinary activities increased due to higher administration costs and lease termination costs.
- Replacement of previous lease facilities with new loan facilities signed in June 2007.
- Further £3.26m of equity raised in May 2007 and £583,000 convertible loan note issued in December 2007.
- Litigation settled with Hanco at a total of £2.0m.
DOWNLOAD
The full results are available to
view and download in PDF format.
For further information:
| Cashbox plc | |
| David Auger, Chief Financial Officer dauger@cashboxplc.co.uk |
Tel: +44 (0) 1256 441000 www.cashboxplc.co.uk |
| Seymour Pierce Limited | |
| Jonathan Wright |
Tel: +44 (0) 20 7107 8000 www.seymourpierce.com |
| Fairfax IS PLC | |
| Ewan Leggat | Tel: +44 (0) 20 460 4389 www.fairfaxplc.com |
| Media enquiries: | |
| Threadneedle Communications | |
| Josh Royston / Graham Herring | Tel: +44 (0) 20 7936 9606 www.threadneedlepr.co.uk |
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