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Cashbox says installed ATM base up 27% in June-Dec

22 January 2008  |  1632 views  |  0 Source: Cashbox

At the AGM being held today, the Company will give the following update on trading:

Installation of machines during the six months ended 31 December 2007, after starting slowly, increased during the period and on 31 December 2007 the installed base of transacting machines was 1,820 compared to 1,442 at 30 June 2007, representing an increase of 26% to the installed base.

Transaction revenues for the six month period ended December 2007 were up slightly on each of the six month periods ended 30 June 2007 and 31 December 2006. Despite a greater number of installed machines, transaction volumes per machine were lower following reduced activity levels in some of the outlets where the Company's machines are located. Gross margins improved significantly as a consequence of the increased proportion of placement machines which are owned by the Company and where a greater proportion of the transaction fee is retained.

The Group expects to report on the Interim Results for the 6 months ended 31 December 2007 during March 2008 and which will be the Company's first results to be reported under International Financial Reporting Standards.

Separately, Cashbox announces that at the Annual General Meeting of the company which was held today, all resolutions put to the meeting were duly passed.

As a result, the following Board changes, which were highlighted in the Company's preliminary results announcement on 20th December 2007, take place with immediate effect:

John Maples has resigned from his position as Non-Executive Chairman and Stephen Brown has also stepped down as a Non-Executive Director. Matthew Thomas, Chief Technology Officer, and Andrew Wilmott, Technical Director, have resigned from the Plc Board to fully focus on operations, remaining on the Executive Board of the operating company, Cashbox ATM Systems Limited.

Robin Saunders, currently Non-Executive Director of the Company, is appointed Non-Executive Chairman.

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