StockMarketWire.com - Expansys the provider of mobile network and eCommerce services has announced its preliminary results for the year ended 30 April 2011, showing turnover increased over 60% to £81.8 million (2010: £50.7 million)- up over 30% on a like for like basis.

Results significantly enhanced by acquisitions of Data Select Network Solutions Limited (DSNS) and PJ Media Limited in July 2010

The company reported underlying pre-tax profit of £3.4 million (2010: loss £0.2 million) - adjusted for exceptional and other non-cash items.

The reported loss before tax significantly reduced to £0.7 million (2010: loss £2.7 million).

The company had cash at the year end of £5.1 million (2010: £0.9 million).

Anthony Catterson, CEO of EXPANSYS, commented: "After a transitional 12 months and challenging trading conditions in our core retail business, EXPANSYS emerges with improved performance and a strong strategic platform for growth and continued success. We have clearly identified our opportunities for growth and remain focussed upon efficiencies in all areas.

In the last year, we have successfully integrated the acquisitions of DSNS and PJ Media, both of which bring distinct and strategy enhancing business models."


At 8:54am: [LON:XPS] share price was +0.36p at 1.48p



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