NEWS FROM…
THE ARGYLL CONSULTANCIES PLC
August 14, 2009
Argyll reports its results for the year ended
March 31, 2009
The Argyll Consultancies PLC today announced its financial results for the year ended March 31, 2009. Turnover fell by 13 per cent due to the loss of some clients and reduced budgets in 2008 resulting from the economic downturn, but continued cost control, including a significant reduction in directors’ costs, resulted in a return to operating profit of £380k (2008 loss of £375k), which was boosted by exceptional write-backs related to share option provisions (£126k) and the property in Crowthorne (£92k).
Financial year 09/10
Although the Company has had a satisfactory start to this year, the Board remains cautious and, because of the global economic outlook, is not budgeting for growth in the current financial year.
Dividend
For this reason, the Board has taken the decision to conserve cash reserves and not to pay a dividend.
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