1st Quarter Group News

Mark Roy, CEO

Having survived the turmoil of 2009, I am pleased to say that it has been a very busy three months here at The REaD Group. Like a lot of companies operating in a recession keeping our cash flow manageable and positive has been our greatest challenge. 3 months into 2010 we have shown a marked upturn, achieving 9% above forecast sales and profit 20.1% ahead of forecast target. Understandably we hope that the rest of the year follows the same pattern.

Although we have continued to win new business, the increased bureaucracy involved in the procurement process has meant that actually winning business has been even harder and more protracted than ever before, but thanks to a gifted and intelligent sales force, we’re seeing more activity and more opportunities overall.

Throughout the recession, we continued to invest in what we perceived to be areas of growth while many battened down the hatches. We acquired meta-morphix, and launched subsidiary organisations Scientia Data and Funnel Lead Marketing. Because of these investments, our earning potential has grown substantially with a significant contribution to Q1 revenues and profits coming from the new ventures. What I am particularly proud of is that we have managed to protect the jobs of our staff and have continued to grow as a company, with each of our subsidiaries making regular and sustained contributions to the group overall profits.

Of course, this doesn’t mean that the recession is over. It just means that we have responded to the challenges effectively and pre-emptively and that we have the right team of people behind us. With the election just around the corner we have an uncertain 2nd quarter ahead of us, which will require continued restraint and hard work.

Key personnel moves include the promotion of Rupert Tomalin to Head of Operations at The REaD Group plc; Dee Toomey has taken the reigns at Scientia as Managing Director Designate and Louise Walker has been promoted to Head of Group Marketing. New recruits include Zach Brookes who has joined Scientia as Business Development Executive, Elena-Maria Theodoulou who joins The REaD Group plc as a Paralegal and Elise Rappoport, our new PR Manager.

Before signing off, I just wanted to take the opportunity to offer thanks to all of our staff, clients and friends for their continued support and to wish everyone a happy and profitable 2nd quarter and rest of the year.

Mark Roy