Clarification On Corporate Update Issued On 16 July 2004
BackJul 20, 2004The Board of Directors (the "Board") of Unified Communications Holdings Limited ("Unified Communications" or "the Group") refers to the first paragraph of the Corporate Update issued on 16 July 2004. The Board wishes to clarify that the Group is expected to post lower profits for the second quarter ended 30 June 2004, as compared to the corresponding quarter last year ended 30 June 2003.
The Board would like to reiterate that the short-term impact on the Group's profits is a result of the Group's intensified efforts to focus on its long-term growth strategy, including:
1. Focusing on new, innovative voice and mobile applications, which serve as value-added services for telco operators
2. Increasing its recurring revenue stream by focusing on revenue-sharing programmes with customers
3. Expanding into the emerging telecommunications markets
The Board believes that this strategy will benefit the Group in the long run and promote a steady, long-term revenue stream and lasting growth, although it may not be apparent immediately. The growth potential of the emerging telecommunications markets, and new mobile applications and technologies, also augur well for the Group.