INTERIM RESULTS FOR THE PERIOD TO 30TH JUNE 2004
The Board of Retail Decisions ("ReD"), the fuel card operator and a world leader in card fraud prevention and payment processing, is pleased to announce its Interim results for the six months to 30 June 2004.
-- Profit before tax more than doubled to £2.5m (2003: £1.1m)
-- Adjusted* profit before tax increased 23% to £3.2m (2003: £2.6m)
-- Adjusted operating margin up from 19% to 22%
-- Basic EPS more than trebled to 0.52p (2003: 0.16p)
-- Group revenue from continuing operations increased by 5%
-- 9% increase at constant exchange rates
-- Excellent performance in the fuel card business
-- 24% increase in adjusted operating profit
-- Strong performance in the Card Not Present fraud prevention market
-- 22% revenue increase at constant exchange rates
-- 40 new contracts signed during period
* adjusted profit numbers refer to the relevant item stated before charges for goodwill amortization and exceptional items.
Commenting, Carl Clump, Chief Executive of Retail Decisions, said: "We are extremely pleased with these results. It has been a strong first half performance. Excellent progress has been made in the Fuel Card business and also solid progress in the Card Not Present market for fraud prevention, with a number of significant contract wins.
We are seeing the benefits of the strategic actions taken over the past four years and now have a group with a strong business model and successful operations in profitable niche markets. We are well placed to take advantage of market opportunities and with a strong first half behind us we enter the second half with confidence".