VOITEQ SHOWS SUBSTANTIAL GROWTH IN TURNOVER AND PROFITS

VoiteQ, the UKs largest supplier of voice directed distribution systems for the warehouse, announce their financial results for year ending 31st December 2004. Turnover increased 185% to 4.96 million from 2.69 million in 2003. Net profit* increased 296% to 682,094 from 230,363 in 2003 (*before interest, tax and goodwill amortisation).

Commenting on the results, David Stanhope, CEO of VoiteQ says, "Following a strong 2003, we have built on this and are very pleased to report an even better 2004.  We have enjoyed a very successful year, supported by our high quality customer base, and the efforts of all our staff. We now possess over 70% market share of voice directed warehouse implementations in the UK and with an ever-growing market, predict further opportunities in 2005.

Stanhope continues, Any new investment in technology now has to deliver a quicker return on investment than during the boom years of the 1990s. Corporate IT spending appears to be staging a recovery but for many retailers and logistics companies budgets are still tight. Fortunately we are well positioned to deliver a fast and measurable ROI on our implementations and add significant value to our customers businesses.

In the last year VoiteQ has installed systems, software and equipment into many new retail and distribution organisations including Brake Bros, WH Smith Office World and Internacionale and recurring revenues from maintenance and support continue to grow steadily.