Interim Results 2009

Wednesday 12th August 2009

Universe (UNG.L) the AIM-listed retail and loyalty systems provider, is pleased to announce its unaudited interim results for the six months to 30th June 2009.

Highlights

• Adjusted operating profit of £345,000 (2008: loss of £347,000) on reduced revenue of £7.3million (2008: £7.9million)
• Gross margin increased to 32% (2008: 28%)
• Operating loss of £21,000 (2008: loss of £483,000)
• Loss Per Share (0.15p) (2008: Loss Per Share 0.54p)
• Cash inflow from operating activities of £1,274,000 (2008: outflow of £417,000)
• Borrowings reduce from £655,000 from £3.2million at the year end to £2.6million
• Cash increases to £516,000 from £70,000 at the year end.

John Scholes, Chairman, commented:

"The benefits of improved quality of earnings and reductions in the cost base have enabled the Group to report an improvement in adjusted operating profit of £692,000 on reduced turnover of £7.3 million. Having made the changes we have made, I am confident that the Group is now well placed to benefit from any economic recovery."

Paul Cooper, Chief Executive, commented:

"Against a backdrop of continued economic downturn I am pleased to report that our strategy of moving away from manufacturing and towards higher margin software and managed services combined with a programme of cost realignment has improved profitability and reduced debt. This continues the turnaround started in H2 last year. The recession has temporarily interrupted top line growth but we have a much stronger platform to exploit a return to better market conditions." 

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