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Monday, June 6, 2011

Expansys says annual results are expected to be below expectations

Online retailer Expansys plc, which has entrepreneur Peter Jones CBE as a significant shareholder and non-executive Deputy Chairman, says its annual results are likely to be below expectations. Last year the company acquired Data Select Network Solutions & PJ Media; earlier this year it relaunched its website.

The Expansys group expects to report pre-tax profit of approximately £3.4 million, which compares with a loss of £200,000 in the previous year. The figures are due to be released next month.

Anthony Catterson, CEO of Expansys, said “While the consumer environment in our key markets remains challenging and competition intense, Expansys is focussed on growing core profitability while laying the foundations for the significant growth opportunities its diverse business models and global coverage present. DSNS and PJ Media have exceeded recent forecasts, while Expansys' online retail business is taking longer to improve than we originally expected. We expect our next financial year to be one of substantial progress.”

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Author: The Fonecast
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