Burgess Hill, West Sussex Uk (PressExposure) August 15, 2012 -- Today, August 15, 2012 the Company released the audited Annual Report and Accounts for the period ending March 31, 2012 as announced in a previous public statement. The Annual General Meeting will be held at the Company's premises at 26 Victoria Road, Burgess Hill, West Sussex (UK) on September 28, 2012 at 12:00 Noon.
Network Technology Plc (former symbol NTY) delisted from the London Stock Exchange in October 2010 and continues as a private public company. Klaus Bollmann stated "we will continue our mission to grow the company and its subsidiaries to the benefit of our customers and shareholders'.
Against the background of a weak economy in an election year with 50% of its revenue coming from the North and South American market and 50% from Europe and Asia the Group was mildly profitable with sales unchanged from the previous year. While the Company was able to increase its gross margins significantly it used those funds to further development its' fledgling product lines and for the repayment of loans.
The main streams of revenue are the FollowMeÂ® Printing Software and ActiveLED Lighting products. FollowMe Printing revenues come from worldwide clients while ActiveLED sales are strongest in North and South America as well as the UK and Ireland. Japan sales under the brand name LioBriteÂ® had a setback from the change of direction of NT's partner in Japan, this market is not lost but will be delayed.
Shareholders are advised that: "The Company does not send Proxy Voting Forms and does not send Annual Reports to its shareholders" but makes them available on the Company's website http://www.network-technology.com . This form of shareholder communication was agreed by 99.9 % of the shareholders in the last AGM in Burgess Hill, UK. This is a significant saving for the Company and a commitment by the Company and its Shareholders to save Energy and Resources while also having a positive effect on the bottom line.