RNS Number : 8785X
Cagney PLC
30 June 2008
30 June 2008
Cagney Plc ('Cagney' or the 'Company')
Annual General Meeting
Trading Update
Change of Directorship
At the Annual General Meeting held today, resolutions One to Four and Six to Ten, as set out in the Notice of Annual General Meeting dated 30 May 2008, were duly passed. Resolution Five was rejected and as a result Victoria Carrel is no longer a director of the Company.
The Chairman, Alex Hambro, made the following statement:
'In the Annual Report released at the end of May we confirmed that the Group had made a profitable start to the year, and that our banking facilities had been renewed with no additional conditions.
'Paul Simons left the Group on 12 May, and Steve Mattey replaced him as CEO a few days later. This change was managed with no disruption to trading.
'At the interim we expect to report significant growth in gross profit against last year's interims, and an encouraging operating profit compared with an operating loss of £180,000 at the same stage last year.
'We believe our positioning in the market is attractive for high profile clients, and we are well-placed to exploit opportunities presented by new media channels.
'We are also continuing to explore opportunities to expand the Group with complementary businesses.'
ENDS
Enquiries:
Cagney Plc Tel: 020 7637 4198
Steve Mattey, Chief Executive
Patrick Oram, Chief Financial Officer
Smith & Williamson Corporate Finance Limited Tel: 0117 376 2213
Nick Reeve
Cubitt Consulting Tel: 020 7367 5100
Michael Henman/Allison Reid
About Cagney Plc:
Cagney Plc is an integrated group of marketing services firms. It combines five businesses: Exedra (including BrandAid as a division), Chick Smith Trott (advertising and design), Cubo (promotional marketing), The Media Foundry (public relations) and Tree (market research and data analysis). The Group floated on AIM in February 2006.
www.cagneyplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
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