The Board of Nexus Management Plc, the AIM quoted provider of specialist IT Managed Services, today released the following highlights of its final results for the year ended 30 September 2011.
- Turnover increased by £53,000 to £5.9 million (2010: £5.85 million)
- Turnaround to profitability before exceptional items of £396,000 (2010: £136,000 loss)
- Nexus UK continued to improve its performance, with additional sales to existing customers and by securing new business
- Nexus in the US delivered a better than expected result for the financial year under review, achieved through strong income performance and reductions to the cost base
Board restructured and strategic review process initiated. The Board anticipates that this
will enable the Group's business to grow and enhance shareholder value
M Barney Battles, Executive Chairman, commented: "The start of the year has seen many high level changes with the Board restructured and a strategic review over the operations and large contracts. I am confident that the strategic changes will stabilise the group and in time increase shareholder value. The operations have got off to a reasonable start for the year 2011/12 and I look forward to the year ahead with Nexus."
The full Report and Accounts can be found on the Nexus website at www.nexusmanagementplc.com