Friday 7 May 2010: For Immediate Release
PSION PLC
Interim Management Statement
Appointment of non-executive director
John Hawkins, Chairman of Psion PLC, will make the following statement at the AGM to be held later today.
This interim management statement is required by the UK Listing Authority's Disclosure and Transparency Rules and covers the period from 1 January 2010 to 30 April 2010.
Trading Update
The slight improvement in sales activity and order intake initially reported towards the end of 2009 has continued through Q1 2010. The Board expects that results for the first half of the current year will be in line with its expectations. With a strong balance sheet, a strong cash position and a clear strategy, Psion remains well placed to exploit improving market conditions.
Open Source Mobility
As previously stated, we are reinvesting some of the savings from the Change Programme to accelerate the refresh of Psion's major products. Our blend of modularity and an open business model, called 'Open Source Mobility' (OSM), will give Psion the best chance of exploiting the economic upturn and establishing a platform for satisfactory growth and sustainable profit delivery. The roll out of OSM remains on schedule - with new products based on our modular platform due to be launched in the coming months - and on budget.
Appointment of non-executive director
Psion today announces the appointment of Mr. Toby Redshaw as a non-executive director with effect from 10 May 2010.
Mr. Redshaw, 47, is currently Global Chief Information Officer at insurance group Aviva. He has previously held a range of management roles at companies including Motorola and Fedex Corporation.
Financial Calendar
Psion will be holding a Capital Markets Day for analysts and investors on Thursday 13 May 2010. No new material information will be disclosed at this event.
The Group is scheduled to publish its interim results for the six months to 30 June 2010 on Thursday 12 August 2010.
Save as stated above, Mr. Redshaw has nothing further to declare in relation to paragraph 9.6.13 of the UK Listing Authority Listing Rules.
For further enquiries, please contact:
Brunswick +44 (0) 20 7404 5959
psion@brunswickgroup.com
Tom Buchanan, Craig Breheny, Michelangelo Bendandi
Notes to Editors
1. Psion (PON.L) is listed on the London stock market. Its operational business, Psion Teklogix, is a global provider of solutions for mobile computing and wireless data collection. The Group's products and services include rugged mobile hardware, secure wireless networks, robust software, professional services and exceptional support programs. Psion Teklogix is committed to helping its customers reap the benefits of new and emerging technologies, including image capture, voice recognition and RFID. With over three decades of industry experience, Psion Teklogix has customers in more than 50 countries around the world. For further information, please go to: http://www.psionteklogix.com
2. The information in this release is based on management information.
3. Certain statements in this announcement are forward looking statements. Such statements are based on current expectations and by their nature are subject to a number of risks and uncertainties that could cause actual results and performance to differ materially from any expected future results or performance expressed or implied by the forward-looking statement. The information does not assume any responsibility or obligation to update publicly or revise any of the forward-looking statements contained herein.