RNS Number : 2706W
Scotty Group PLC
27 July 2009
SCOTTY Group plc
('SCOTTY' or 'the Company')
Change of accounting reference date
Trading update
SCOTTY Group plc announces that it has changed its accounting reference date from 31 July to 31 December, with immediate effect.
This change has been effected to align the Company's financial year more closely with the contract cycle of some of its key European government customers and to move the financial year-end away from the summer period that has in several recent years produced peaks of activity around the year-end date. It is expected that this change will remove some of the difficulties associated with forecasting the timing of revenues between financial years.
The current year is typical of this trend of summer activity and the Company's comments in its trading update on 8 June 2009 about the uncertainties of timing of projects remain valid. It is now clear that revenue from some projects previously forecast in the twelve-month period to 31 July 2009 will instead fall into subsequent months. As a result the Company anticipates that, whilst still profitable, its pre-tax profit for the twelve months to 31 July 2009 will be lower than last year, but these timing changes will have a positive effect on the subsequent five-month period to 31 December 2009.
As a result of the change of accounting reference date, the Company's reporting calendar will be as follows:
Unaudited interim results for the six months to 31 July 2009, to be published before 31 October 2009.
Audited accounts for the seventeen months to 31 December 2009, to be published before 31 May 2010.
Unaudited interim results for the six months to 30 June 2010, to be published before 30 September 2010.
Audited accounts for the twelve months to 31 December 2010, to be published before 30 June 2011.
Thereafter, interim and annual reports will be published each year, for the six months to 30 June and twelve months to 31 December respectively, in accordance with the AIM Rules for Companies.
ENDS
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SCOTTY Group plc
Kurt Kerschat, CEO
Bryan Smart
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020 7653 9850
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Threadneedle Communications
Graham Herring
Josh Royston
HB Corporate Ltd
Imran Ahmad
Nick Athanas
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020 7653 9850
020 7510 8600
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