EasyScreen Plc ("EasyScreen", "the Company") is delighted to announce that the Refco EasySolutions Joint Venture ("JV"), 49% owned by EasyScreen and 51% by Refco Group LLC ("Refco"), achieved operating profitability in the month of April 2004 and is expected to continue to operate profitably.
The JV continues to increase its sales of Refco Pro screens in the U.S. at a consistent rate, with numbers and transactions at an all-time high. This increase does not include any licenses from the European rollout serviced from London, which is now in full production.
With JV monthly operating profitability achieved, the steady growth of screen numbers and revenues is expected to result in sustained and increased profitability for the JV, in which EasyScreen will share.
Commenting on the announcement, Philip Docker, Chairman of EasyScreen, said: "This move by the JV to monthly profitability is a key milestone that the Company has been working toward. Our strategic investment in the JV has proved well founded. EasyScreen technology, as showcased by Refco Pro and embodied in EasyXchange in London and Chicago, is now firmly established as the product that best meets the needs of the contemporary market."