Matrix Communications Group plc

('Matrix' or the 'Group')

INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 APRIL 2004

Matrix Communications Group Plc ('Matrix' or 'The Group'), the UK's
communications integrator of choice for leading edge technologies, today
announces its unaudited results for the six months to 30 April 2004.

Highlights

* Turnover up 3,381,000 to 3,697,000

* Gross profit up 1,493,000 to 1,640,000

* Group Pre-tax profit up 822,000 to 550,000 (including minority interests)

* Net Assets up 3,146,000 to 4,473,000

* loss-making satellite communications business sold in January for 30,000

* acquired and successfully integrated three profitable IT companies during
the last 6 months in line with its core strategy

Ian Smith, CEO, commented:

'This has been a defining period for the company and we are delighted to be
reporting on the success we have achieved over the six months. As well
achieving significant organic growth from our existing businesses we have
delivered on our core objective to extend our offering and client base through
acquisition. Over the period we have succeeded in acquiring and integrating a
further three companies into the group, transforming Matrix into the UK's true
integrator of choice. As an enlarged Group we have recently won contracts with
Vodafone, B.A.R Honda and The London Internet Exchange and have engaged in a
number of talks for other exciting contracts. Looking forward, the challenge
for us now is to capture the consolidated cost efficiencies in the enlarged
Group and exploit the numerous cross-selling opportunities that are available
to us through our matured commercial relationships with our present client
base. In this period we have made great progress in turning the company around
and building a solid base of recurring revenues and high margin product mix
with leading blue chip companies. I look forward to reporting to you on our
future progress'


molatovkid - 01 Jun'04 - 07:34 - 173 of 173 edit



Embargoed Release: 07:00hrs Tuesday 1st June 2004

Matrix Communications Group Plc

(`Matrix')

Re Agreement

The Group has concluded heads of terms to acquire a profitable mid-tier
distribution business from the 1st August. This will enable Matrix to continue
to develop its market position and maintain its strong margin growth by
strengthening its key vendor relationships.

As emerging technology segments start to cross over and consolidate, it is very
important that the Group has access to Key Vendor relationships so that 'best
of breed' solutions can be offered to it's customers.

The current annual turnover of the business is 5.5m.

Further Information:

Ian Smith, CEO

Matrix reloads on acquisition front
MCG adds Norwood Adam and Bedrock Networks to earlier buys
Ben Tudor, Computer Reseller News 08 Aug 2004
ADVERTISEMENT

Matrix Communications Group (MCG) has bought distributor Norwood Adam and reseller Bedrock Networks for 2.5 and 2.4m respectively.

The valuations depend on both firms meeting performance targets.

MCG, which changed its name from Offshore Telecom in March this year, also paid 100,000 last year for a half-share in Norwood Adam Technical Services, a network operations centre business set up by the distributor which reported a turnover of 614,000 for its latest financial year.

MCG also bought Intrinsic Networks in December 2003 and Decorum Networks in April this year, and owns a reseller arm: Matrix Network Solutions.

Manny Pinon, sales and marketing director at Norwood Adam, said: "It's going to be business as usual for us, except with the clout of a plc behind us. There will be no changes, except that we are now recruiting."

Andy Palmer, UK managing director of Foundry Networks, said the deal will make Matrix one of the largest networking integrators in the country, providing alternative products to those of Cisco.

But Jon Murphy, product manager at VAR Data Integration, expressed concerns. "It will be interesting to know how it will handle the conflict of interest between distribution and reselling. It would be unwise to jump to any conclusions, but it does create a potential doubt," he said.

Pinon added: "Stigmas about this sort of thing have eroded. For example, take Computacenter and Metrologie. If VARs have an issue, I urge them to call me."

Bedrock, an Extreme reseller founded in 2001, recorded turnover of 4.1m and a profit of 1.1m for the year ended 31 July 2003. David Grant, who set up Bedrock after leaving his position as Extreme's UK managing director, will take a seat on MCG's board

you only have to look at the ftse,aim,techmark to see why this aint flying

can someone explain why when there is over 750,000 straight buys the price does not move up and yet a sell of say 150,000 and down it goes gggrrrr matrix

Seems as though the MMs are reacting to sellers rather than buyers. Just makes me wonder if there is a big sell order in the background.

grevis, is it me or is advfn still down?

Still down PM.

btw That 340k buy was mine, was rather hoping it would have moved something!

cheers

ok, at least they have dropped the online buying limts by 50%.

in fact they have now switched completely. Can now sell 1.5m on comdirect buy 375k

petermoran: MoneyAM and ADVFN have both been down today. Real pain in the neck. Fortunately they are now back and seem to be OK.

seems if u bought 100,million the price wouldnt go up much

Looks like some steady buying today, should see a tick up soon.
Been looking at other stuff FAR for one. Remember this has to be a long term hold there are to many shares afloat and to many people day trading it.
Put your money in and watch it grow slowly.
WANTU thought you would have sold out by now? Chill man

I HAVE JUST SEEN A SELL OR BUY OF 2,700.000 AT 3P SELL WAS 2.95 BUY WAS 3.10 BUT DO THEY BUY AT A SPECIAL LOWER RATE IFF BUYING THAT MANY ? SOMETHINGS OCCURING..

i hope it was a buy,if not i`ll be saying goodbuy to mxc

TED I CANT SELL MAN MY 2ND HALF COST ME 4P WISH I HAD SOLD LAST MONDAY IT HIT 4P FOR 10 SECS BUT BY 8.I5AM DOWN IT WENT AND IT DID NOT STOP GOING DOWN GGGRRRRR

Could this be the reason for those sales. Old Offshore Directors unloading?

Offshore Telecom PLC
14 July 2003
OFFSHORE TELECOM PLC
BOARD CHANGES AND DIRECTORS' SHAREHOLDINGS
Further to the announcement on 3 July 2003, Offshore Telecom Plc ('Offshore
Telecom') announces that David Bland, Philip Mehrtens, Michael Yarrow and
Patrick Roberts have resigned as Directors with effect from 12 July 2003.

Continuing and past non-executive Directors have elected to take the
remuneration owed to them in the form of new ordinary shares in Offshore
Telecom. Accordingly, new shares have been allotted at a price of 0.525p on the
following basis :

Michael Frank (Michael Frank Associates) : 2,666,476 shares;

Keith Mills (KEM Management Ltd.) : 1,077,143 shares;

Michael Yarrow : 2,461,524 shares;

Patrick Roberts (PJR Consulting Ltd.) : 2,461,524 shares.

Admission to dealings on AIM in the new shares will be sought.

As part of the arrangements relating to the resignation of David Bland, Keith
Mills has agreed to acquire 9,523,809 Offshore Telecom ordinary shares from Mr.
Bland at a price of 0.525p per share.

The continuing Directors are interested in the following shareholdings :

Michael Frank : 12,074,187 shares (1.3% of the enlarged share capital);

Ian Smith : 342,142,858 shares (38.0% of the enlarged share capital);

Keith Mills : 51,599,497 shares (5.7% of the enlarged share capital).

With the exception of shares received as past remuneration and the share
transfer referred to above, the continuing and past Directors have agreed to
restrictions on the sale of shares in which they are interested :

David Bland, Philip Mehrtens, Patrick Roberts and Michael Yarrow have undertaken
not to sell any Offshore Telecom shares for a period of 6 months and to sell
only through Offshore Telecom's stockbroker during the following 6 months.

Michael Frank and Keith Mills have undertaken not to sell any shares for a
period of 12 months.

Ian Smith continues to be bound by an undertaking not to dispose of any shares
before 28 April 2004.

Wall Street closes 130 points up!

That's just what the Dr ordered. I mean dear old Dr.Greenspan of course. He's managed the USA through a tremendous period of growth and from Wall Street's reaction (up 130 points) things ain't so bad after all. That quarter point rise was well received and they reckon Wall Street's now heading back over that psychologically important 10,000 barrier. This will be good for UK markets tomorrow and should see all sectors moving ahead. I would expect MXC to join in the fun and rise from its currently oversold position.

Happiness thy name is Greenspan!

Dexter01:

The price is where we came off the bottom last time. Shareholders large or small are allowed to get frustrated, as we all have from time to time. Some sell, others sit on their hands and others dip a toe in the water. Just remember that shares can go up and down. They are by their nature a gamble but unlike the horses you get more than one crack of the whip. There's no doubting the fact that MXC is developing into a powerful force in its field and now has some of the best brains in the business. Sell if you will, but when the rebound comes there will be more to be gained than lost at these levels. DYOR and be lucky!

grevis,

Sorry but your post is full of cliches.

Fact is that the trend it down and unless we hit another bull run it's gonna stay that way.

Salford: Sorry you feel that way. This item may be of interest to you. It's just been posted on ADVFN:


Stroudy1 - 11 Aug'04 - 08:32 - 34751 of 34752


This post is taken from iii BB, there had been a deramper trying to make a big issue out of ISs job title at Foundry (like it matters), Ian Smith e-mailed this response to one of the posters on there:

Thanks for your email. I was actually on holiday when this release went out and have only just returned. I will look into it for you today and report back.

As for the job role bit, I can tell you that my contract of employment stated Regional Director but I was variously described as Sales Director and Managing Director during the 2 years that I ran the UK operation. Andy Palmer is the VP for Europe, Middle East and Africa (EMEA) and was my boss! The fact is I was a director and ran the UK.

What I can tell you is that we are building a very strong business, with some of the best people I have ever worked with and we will deliver more than 11m turnover this year and substantial profits. This is practically a 7 fold increase on last year and we will deliver further exceptional growth in 2005. I would be amazed to see another company in the UK in our field doing anything like this let alone making profit! Our industry is littered with low quality companies that brag about their turnover but barely survive from one year to the next on negligible profit and this is where Matrix is entirely different. Our existing businesses continue to grow aggressively in an organic fashion with Matrix Network Solutions alone increasing from 1.3m last year to circa 5m this year. On top of this we will add more complimentary businesses via acquisition and this will further stimulate the powerful cross selling that is now taking place. Our success naturally attracts critics but our future results will count and it is against these we will be judged not whether my job role was Managing Director, Sales Director or Regional Director!
Thanks again for your email.

Regards,

Ian