Cashbox AGM statement

Source: Cashbox

At the AGM today, the Company will provide the following update on trading:

As at 31 December 2009, the installed base of transacting machines was 2,528 compared to 2,438 at 30 June 2009, after the successful uplift of over 300 Thresher ATMs. These machines will provide the Company with sufficient ATM stock in warehouse to meet installation requirements for the remainder of this third quarter. The sales pipeline remains strong and the Company was pleased recently to announce the signing of a new exclusive contract with Fuller, Smith and Turner PLC and the addition of further sites to its existing Orchid Group Ltd contract.

Transaction revenues for the six month period ended December 2009 were up on each of the prior six month periods ended 30 June 2009 and 31 December 2008.

The operating costs of the core business for the six month period ended December 2009 have been significantly reduced from the same period last year, and are set to remain at this level for the financial year as a whole.

The Company continues to remain focused upon acquiring premium corporate contracts and on growing the overall transaction volumes of the estate. The Company will continue to monitor possible acquisition targets although the Directors acknowledge that the raising of further equity and/or debt capital may prove challenging in the current economic climate.

The Group will announce its Interim Results for the six months ended 31 December 2009 during March 2010.

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