Strong second half recoups first-half losses

Edited by the Electronicstalk editorial team May 6, 2004

TTP Communications has released preliminary results for the year ended 31st March 2004.

TTP Communications has released preliminary results for the year ended 31st March 2004.

Sales revenues were GBP 49.6 million (2003: GBP 49.2 million).

The company recorded a pre-tax loss GBP 2.7 million (2003: GBP 6.6 million profit) but returned to profitability in the second half of the year with GBP 2.7 million profit.

Loss per share was 2.003p, compared with 2003 earnings per share of 2.207p.

Commenting on the results, Dr Tony Milbourn, Managing Director said: "After a difficult first half, I am pleased to report that TTPCom's business has now recovered as expected; the group as a whole is now profitable and the outlook for all our businesses is encouraging.

The transition to more royalty-based income will enable us to benefit from the growing share of world markets taken by our licensees.

At ip.access we are on track to break even during the year and we are increasingly confident that we have created a business that will generate substantial returns to shareholders on the investment we have made over the last four years.

All of which gives us confidence that we will continue to prosper in the mobile phone market - the world's largest consumer electronics market - as it continues to grow in the years ahead".