Gross Profit up 206% to £4.9m (1999 : £1.6m).
Group turnover up by 261%, to £17.3m (1999 : £4.8m).
EBITDA loss of £8.1m (1999 : loss of £1.8m), in line with market expectations.
Strong cash position, over £28m in the bank.
Business Development
Implemented a focused business strategy
Strategic review in November 2000 producing annualised cost savings of up to £2.0m
Continued development of new Blue Chip client base
Continued successful integration of recent acquisitions
Successful Stock Market debut in April 2000
Commenting on the results, Jeremy White, Chairman of Nettec plc, said:
This has been a year of dramatic development for Nettec, in which we have seen the business grow both organically and by successful acquisition. Our market place continues to show rapid growth and through the restructuring and refocusing of the business in November and the additional strengths through the successful integration of our acquisitions, I believe that we are well placed to benefit from future client developments in our field.
