Epic results expected to exceed market expectations
Trading performance recovers
Epic is pleased to announce an improvement in trading for
the second six months of the financial year. Since the announcement
of the interim results on 5 February 2002 sales have been
marginally ahead of expectations; however due to the operational
gearing inherent in the business, profits will exceed market
expectations for the year ending 31 May 2002.
Sales
Sales to the Government sector have continued to increase
with revenues being generated from the Department of Trade
and Industry, Inland Revenue, Scottish Enterprise and the
Welsh Development Agency. The financial sector remains important
with retail bank clients providing a consistent revenue stream.
Projects with Sun and Channel 4 have been finalised.
Products
As reported to the market in March, we have also made good
progress with a number of product orders on our PRIME:Leadership
course.
Outlook
The directors believe that since Christmas 2001 the demand
for e-learning, especially within the public sector, has increased.
This is evidenced by the increased level of enquiries, which
should lead to further sales opportunities in the year commencing
1 June 2002.
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