Audited Final Results for the 12 months ended 31 December 2012

Jun 05, 2013

Embargoed for 7:00am release

(“@UK” or the “Company”)

Audited Final Results for the 12 months ended 31 December 2012

@UK PLC (AIM:ATUK.L), the cloud eCommerce marketplace, today announces its audited final results for the 12 months ended 31 December 2012.

Key Points


  • Revenues decreased by 6% to £2.219m (2011: £2.353m) due mainly to a slowdown in company formations
  • High gross margin ecommerce revenues increased by 7% to £1.18m (2011: £1.106m)
  • Loss before tax increased to £850k (2011: £177k) due to investment in overseas expansion and technology and contract win payments slipping from 2012 into 2013
  • Net Assets decreased to £123k (2011: £469k)
  • Cash positive in Q1 2013


  • Signing of partnership agreement with Visa
  • Rebranding to and for global rollout
  • Strong performance in eCommerce, our core business, in the year has been offset by a slowdown in company formations
  • Indian operation launched and profitable in the year
  • Australian operation launched in collaboration with Visa and profitable in year to date
  • US office opened in year to date
  • First implementation of Care Marketplace live
  • @UK named as approved supplier within three UK public sector frameworks
    • UK Government’s G-Cloud framework (1, 2 and 3)
    • Four year national ecommerce framework agreement for all UK public bodies
    • Care Marketplace/Directory framework

Ronald Duncan, Executive Chairman, commented, “It has been a busy year, both in the UK and overseas as we begin to establish a global brand. The relationship with Visa and its member banks gives us real credibility and we are confident that these partnerships combined with the considerable investment made this year in both our technology and international expansion will result in significantly improved future results.

“The market for our services appears to be at an inflection point and we are certainly seeing buyers who are much more technically literate, as they become increasingly confident about using the web for purchasing at home.  The convergence of B2C with B2B has been anticipated, but in 2012 we could clearly see that change was happening.  Our challenge in 2013 is to harness that change and direct our resources to where we can best monetise the opportunities.”

Download the full RNS   Download Annual Report 2012