Thursday May 1, 08:07 AM
Vectrix Corp says H1 revenues low but sees significant rise in H2; names new CEO
LONDON (Thomson Financial) - AIM-listed Vectrix Corp. said it generated 'low' revenues in the first-half of fiscal 2008 as it began building a large dealer network, but added that it expects 'significant' revenue increases beginning in the second half.
In a pre-AGM statement, the zero-emission scooter company said recognised revenue for the half year was $1.3 million and deferred revenue was $4.6 million at March 31, 2008.
The company said it named Mike Boyle as chief executive officer, effective at the end of today's AGM. It (Frankfurt: A0MLX5 - news) also intends to nominate Boyle as a director, to fill the seat being vacated by current CEO Andrew MacGowan, which will be voted upon at the AGM.
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