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ots Ad hoc-Service: SinnerSchrader AG <DE0005141907> SinnerSchrader presents strong half-year figures and raises revenue and profit forecast for fiscal year 1999/2000

Hamburg (ots Ad hoc-Service) -

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SinnerSchrader Aktiengesellschaft achieved a revenue of DM 12.6
million in the first half of the 1999/2000 fiscal year (1.9.1999 -
31.8.2000). This represents a 375 percent increase on revenue against
the comparable period in the previous year. The operating profit is
DM 3.7 million, reflecting a profit-turnover ratio of 29.3 percent.
In the second quarter, the Hamburg-based service and consultancy
company for eCommerce solutions was able to sustain earlier strong
growth and to prove the excellent profitability of its business
model. Staff numbers rose by over 60 percent from 62 at the end of
August 1999 to a total of 101 employees at the end of February.
Currently, 131 people work at SinnerSchrader. On the basis of the
company's second-quarter results, SinnerSchrader is increasing its
projected revenue figures for the current fiscal year from DM 24
million to DM 28 million. The forecast for the operating profit has
been raised from DM 4.3 million to DM 5.6 million. This translates
also into an increase of the projected operating profit margin from
18 percent to 20 percent. Projections on staffing are also being
revised upwards. At the end of the fiscal year, on 31st August 2000,
it is anticipated that there will be more than 150 people employed by
the company. Business development in the second quarter was marked by
continuing strong growth in business with existing clients.
SinnerSchrader created a B2B platform for the sale of high-value real
estate for PropertyGate.com AG which is due to be extended
Europe-wide over the coming months. SinnerSchrader has provided
support for goricardo.co.uk the English subsidiary of the German
online-auction house ricardo.de, and has also supported the
business-to-business channel ricardoBIZ.com. Additionally,
SinnerSchrader has developed one of the first functioning WAP
applications, for the rental car company Europcar. As a "professional
solution provider" for Intershop, SinnerSchrader has extended its
range of services through the integration of the Intershop software
"Enfinity".
Amongst its new customers, SinnerSchrader includes the
coffee-roasting company Tchibo and the European Internet direct
insurer Ineas. As part of its venture strategy, SinnerSchrader has
taken a share in the eShipping company LetMeShip.com. Furthermore,
SinnerSchrader has begun its move towards internationalisation during
the second quarter by founding its first European subsidiary in
London. The new company is already providing support for two existing
eCommerce clients in the English market.
End
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