Final Results for the year ended 30 June 2009
22 December 2009
Hot Tuna (International) PLC (AIM: HTT), a leading surf wear and fashion brand, announces its final results for the year ended 30 June 2009. The Accounts and Notice of AGM have been posted to shareholders. Copies may be obtained during normal office hours from the Company's registered office, Level 5, 22 Arlington Street, London, SW1A 1RD or from the company's website: www.hottunaplc.com.
The Annual General Meeting will take place on 18 January 2010 at 11.00 am at Level 5, 22 Arlington Street, London SW1A 1RD
Highlights
- Revenue increase 1.6% to £1,144,000 (2008 - £1,126,000)
- Gross profit of £248,000 (2008 - loss £27,000)
- Raised £860,000 during the year by issuing 283 million new shares
- UK & EU sales up 33% on last year
- Strong growth of the children's range in Australia
- Children's range to be rolled out into the UK & Europe in 2010
- Interest from new markets which may result in new distributor agreements
- Geoff O' Connell appointed to the board in May 2009
Commenting on the results, Geoff O'Connell, CEO, said "Although over the past year the retail trading environment was challenging, we have worked hard to simplify the corporate structure and reduce our
operating costs. This has resulted in a more streamlined and higher margin business.
We are excited about the new collection, which has seen a real return to the heritage of the brand, and strong focus on the iconic piranha logo. The range has been well received by customers in all regions, particularly the southern hemisphere, and we are confident that the combination of delivering the right product, to the right buyers across all our territories will continue to deliver solid revenue growth.
We are positive about the outlook for 2010 and go forward confidently."
For further information, please contact:
| Hot Tuna (International) PLC | |
| Geoff O'Connell, CEO | Tel: 020 7016 7862 |
| Pelham PR | |
| Kate Catchpole/ Lucy Frankland | Tel: 020 7337 1520 |
| Seymour Pierce Limited | |
| Mark Percy / Christopher Wren | Tel: 020 7107 8000 |