Sky High Releases Trading Statement
22 February 2010
The Board of Sky High (AIM: SKHG), is pleased to provide an operational update. The company has come through the recession in a strong and stable position through a combination of carefully managed fixed costs, increasing sales and investing in software and hardware. Sales are back to last year's levels and are expected to increase in all its operating units as the company's long-term business plans take hold. The company does not expect to increase its fixed costs over this period. It is active in recruiting sales and marketing executives experienced in the data capture and data collection field.
Sky High Technology has operated at record levels this year and enquiries are at an all-time high. The important enquiries-to-sales conversion ratio has remained stable.
Sky High Data Capture (SHDC), formerly Halifax Computer Services, has completed its first full year's trading within the Sky High Group. SHDC remains profitable and is looking to expand its existing client base. SHDC will focus on growing its traditional work source and increasing profitability by outsourcing.
Sky High Australia Data has implemented some major changes. It has won new framework agreements whilst retaining its existing agreements. It has seen its orders grow by 48% since 1 April 2009 and has become a key player in the Australian vehicle data collection industry. It has also reduced its fixed operating costs.
Diversification
The board continues to support and invest in the research and development of technologies and software which brings new opportunities for data collection such as vehicle tracking software. Sky High is also actively engaged in inter-company trading and joint ventures to help develop its overall strategy and therefore the growth of its business.
Acquisitions
The board continues to review potential acquisitions and is actively engaged in finding and assessing suitable targets.
