@UK PLC : - Trading Update

Embargoed for 7am release	31 January 2012

@UK PLC

("@UK" or the "Company")

Trading Update

@UK PLC (AIM:ATUK.L), the cloud e-commerce marketplace, today gives an update on trading for the year ended 31 December 2011.

The Group experienced improved trading during the year and consequently expects to announce results ahead of market expectations. Revenues are expected to show an 18% increase on the prior year to approximately £2.415m, while the loss before tax is expected to have decreased by 76% to approximately £0.14m. The Company's e-commerce business, its main growth engine, delivered a stronger than expected performance with 61% growth in revenues.

2011 was a transformational year for @UK, evidenced by a number of major successes, including: -

* National Audit Office's use of SpendInsight technology for a review of NHS consumable spending;

* GeM marketplace win for all Universities and Colleges (the only major e-marketplace contract that was available during the year);

* Selection for NHS Carbon Footprint Project; and

* First global e-commerce site for a GeM supplier.

Only £0.46m in revenue was recognised from these contracts in 2011, with a further £1m to be recognised over the next three years, plus a significant amount of additional revenues already agreed for further work against these contracts.  

Following successful equity fund raisings undertaken during the year from both existing and new investors, along with capitalisation of software, the Company now has a robust balance sheet and a strong cash position, which is expected to improve @UK's position significantly when competing for future large Government contracts.

The Company is in the process of installing a telesales team focusing on selling SpendInsight and GreenInsight across the Public and Private sectors. We have already recruited our first two team members, who are focusing on the NHS in support of the NHS Carbon Footprint project and also to Local Government, with two more joining in the next few weeks, who will focus on Universities, Housing Associations and Central Government.  In all we have identified 10,000 UK-based prospects for our analysis offerings at £10,000 each for either Spend Analysis or Green Analysis.

The Board therefore believes that the Company now has both the necessary products and resources to grow revenues and profits significantly.

Chairman Ronald Duncansaid: -

"I am delighted with the progress that we have made in the last year and with the strong demand that there is for our services. We have seen significant growth in the year, in particular from our e-commerce business, and with an expanded sales team and a strengthened balance sheet look forward to another successful year in 2012."

Enquiries:

@UK PLC Ronald Duncan, Chairman	Tel: [phone]
Arbuthnot Securities Limited Tom Griffiths/Ed Groome	Tel: [phone]
Newgate Threadneedle Caroline Evans-Jones/ Alex White	Tel: [phone]

@UK PLC

@UK is Europe's leading Cloud Platform with over 1 million users, which is used for University and Colleges' procurement along with Local Authority, Schools and other Government and Private sector procurement.

The GeM marketplace for Universities on Colleges is the only card based national marketplace in the world and was successfully delivered for the 800 Universities and Colleges and the 680 National Suppliers, proving that Cloud Ecommerce delivers large complex projects for Government on time and budget.

Richard Benyon MP Minster for the Natural Environment, launched the @UK Green Ecommerce Marketplace back in October 2010, and it is now the largest repository of product carbon footprints in the World.

@UK was used by the National Audit Office to identify over £500 million in savings for 25% of NHS spend.  The ground breaking SpendInsight system used to identify the savings resulted in the award of 2 PhD's in artificial intelligence.

@UK delivers key government commitments of Savings Sustainability, and SME Inclusion along with support for start-ups.  @UK PLC has now created over 200,000 start up businesses and recently launched a new Cloud-Start-Up.com service to provide a complete suite of cloud business software to start-ups along with the essentials of Limited Company, Bank Account, Domain Name, Email, Ecommerce, Accounting system and membership of the @UK business club.

@UK has 6 key competitive advantages

·      SpendInsight uses unique artificial intelligence to automatically identify savings and is available on a national framework contract

·      Ecommerce Marketplace realises the savings through correct pricing vs catalogue marketplaces which are unable to support carriage, or complex pricing

·      GreenInsight provides unique sustainability analysis and

·      Hybrid Carbon Footprints enabling universal carbon footprints at a price break through of £4 per item

·      High performance cloud technology underpinning the system

·      Start up service allowing start ups to immediately start trading

@UK is included in the Software and Computer Services Sector (9530). 

For further information please visit the @UK PLC websites

Cloud-Start-Up.com http://cstartup.com

RNS news service provided by Hemscott Group Limited.