Galasys PLC Pre-Close Trading Update and New Contract Wins (0116O)
04 2월 2016 - 4:00PM
UK Regulatory
TIDMGLS
RNS Number : 0116O
Galasys PLC
04 February 2016
Galasys PLC
("Galasys" or the "Company")
Pre-Close Trading Update and New Contract Wins
Galasys PLC (AIM:GLS), a leading provider of ticketing systems
and solutions to the fast growing amusement park industry in Asia,
is pleased to provide the following trading update for the year
ended 31 December 2015 in advance of the release of its annual
results in May.
The Group expects to announce a set of results for the year to
31 December 2015 demonstrating that trading is in line with market
expectations. It is however likely that the Company will need to
provide for certain one-off exceptional costs relating to the
on-going litigation as already announced, which would have the
effect of reducing profits before tax and earnings in the year. If
these legal costs are ruled by the courts to be for the account of
the Company, the profits for the year could be below market
expectations and in extremis, materially so.
During the period Galasys has won numerous and significant new
contracts in addition to the Company's ongoing repeat business. The
two most recent are deals are in Malaysia and China, with a total
combined value of c. GBP 290,000.
Malaysian Contract
Galasys is providing the ticketing system for the Tropical
Island Waterpark in Kuala Terengganu in Malaysia. Covering 1.5
acres, the theme park is built on top of a man-made island and will
be the first theme park for the northern east coast state of
Terengganu. Facilities include horse rides, badminton courts, a
club house, swimming pool, gymnasium and beach.
Chinese Contract
Galasys is providing E-ticketing and membership solutions to the
Oriental Pearl and TV Tower based in Pudong, China. The tower,
which is 468m tall, is one of Shanghai's cultural landmarks and was
the first national 5A level scenic spot. Built in July 1991, it was
first used in 1995 to provide radio and television transmission
services over an 80km radius. In 1995, it was listed as one of
Shanghai's top ten scenic spots. The tower has a space capsule,
revolving restaurant, Shanghai urban landscape and galleries of
historical developments.
Commenting on the announcement, Mr. Seah, Chief Executive,
said:
"I am pleased that we have been able to complete another
successful year with a strong financial and operating performance.
We have continued to grow the business throughout 2015 and, with
these latest contract wins, we now provide our solutions and
services to over 170 amusement parks across China and South East
Asia, compared to 60 sites at the time of our admission to AIM in
May 2014.
"I look forward to reporting the full details of our results in
May."
For further information, please contact:
Galasys PLC
Sean Seah / Teh Kim Seng + 6032858 9959
WH Ireland (Nominated Advisor & broker)
Adrian Hadden/Mark Leonard 0207 220 1666
Newgate (Financial PR)
Adam Lloyd/Bob Huxford/Helena Bogle 0207 653 9850
About Galasys
www.Galasystec.com
Galasys is a leading integrated and modular amusement park
solutions and services provider to premier amusement parks in China
and South East Asia. Through its proprietary systems, the Group
provides amusement park operators with the ability to sell, manage
and analyse tickets, visitors, merchandise sales and other
amusement park operations. It has been operating since 2005 and
supplies solutions and services to more than 170 amusement parks in
China and South East Asia. The Group has invested more than 50
man-years in R&D and owns the intellectual properties to its
software and systems. The Group currently employs and retains more
than 140 people across Asia.
In recognition of the quality of the Group's solutions and
services, Galasys is a merit recipient for the prestigious 2015
ASOCIO ICT Awards in the category of Outstanding ICT Company.
For more information, please visit www.galasystec.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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