Source: Business Control Solutions
Business Control Solutions Group (BCS Group or the Company), the provider of consultancy and software control solutions, is issuing this trading update prior to entering the close period before the announcement of its preliminary results for the year ended 31 December 2006.
BCS Group announces that while sales for the 12 months to 31 December 2006 are expected to be ahead of market expectations, the loss for the year is expected to be marginally higher than forecast due to the accelerated investment programme referred to below.
In November 2006, the Company raised £3.0 million by way of a placing of 50,000,000 new ordinary shares with institutional and other investors to fund investment in growth of the Company, specifically in product development and in hiring additional sales and marketing and consulting personnel. The placing has not only allowed the Company to continue its investment programme in its software products, but has also provided additional resource for the development of the consultancy business. During the last quarter, the Company recruited 12 new employees into key investment areas for the business which is in advance of its original plans.
The Board is confident of the prospects for the year ahead.
BCS Group's preliminary results will be announced in April 2007.