B&D Worldwide |
NewsCURRENT OPERATING PROFIT OF €6.8M AND NET REDUCTION OF DEBT IN H2 - Financial news26/03/2009 Paris, France, March 26th 2009,
* at constant exchange rates
Annual revenue increased by 20.3% over the comparative period for 2007, at constant exchange rates, with 10% organic growth. The operating profit is €6.8m (2007: €16.5m). The Group share of net income is €-6.7m including deductions for amortization of goodwill of €4.2m, net financial charges of €6m, taxation of €5.2m and recording a profit of €2.1m on the disposal of discontinued activities. Net debt stands at €40.8m compared to €53.4m at June 30th 2008. This reduction demonstrates the improvement in the financial status of the Group during the second half of the year resulting from improved management of working capital.
Patrick Bensabat, CEO of Business & Decision, comments: "2008 has been a transition period for the Group with an improvement in the second half of the year.. We have also completed renegotiation of our banking covenants after they were breached at June 30th 2008. We are thankful to our banking partners for demonstrating renewed trust in the Group. Business & Decision is now well prepared to cope with a difficult period in 2009."
Outlook
Market conditions are difficult and offer low visibility. The slowdown in activity has continued since Q4 2008. In this context, Business & Decision is focused on maintaining the level of profitability necessary to maintain its banking covenants.
About Business & Decision
Business & Decision is an international Consulting and Systems Integration (CSI) company. It is a leader in Business Intelligence (BI) and Customer Relationship Management (CRM), and a major player in e-Business, Enterprise Information Management (EIM), Enterprise Solutions as well as Management Consulting. Business & Decision contributes to the success of customer projects by driving maximum business performance. The company has a reputation for functional and technological expertise and has forged partnerships with all of the key technology vendors. Located in 20 countries, Business & Decision currently employs more than 2800 people worldwide. Additional information is available at www.businessdecision.com.
CONTACT:
Pauline Cieutat Communication Manager Investor Relations Business & Decision Tel: +33 (0)1 56 21 21 20 Fax: +33 (0)1 56 21 21 22 pauline.cieutat@businessdecision.com
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