office2office plc (the "Group"), a leading provider of office supplies and business solutions, reports that since its November Interim Management Statement, revenue in the contract office supplies business has continued to decline. Despite overall Group revenue exceeding that for the same period in 2011, reflecting the growth of our Truline and Business Critical Services activities, the Group has not been able to compensate for the difficult trading in the contract office supplies market.
As a consequence we now expect to report underlying profit before income tax for the year ended 31 December 2012 in the range of £6.3m and £6.7m.
Borrowings are expected to be reported at an only slightly higher level than last year.
The Group will announce its results for the year ended 31 December 2012 on Tuesday, 26 March 2013. An analyst presentation will take place at Panmure Gordon,One New Change, London, EC4M 9AF at 9.30 am. Please contact Georgina Hall at Cardew Group on 020 7930 0777 if you would like to attend.
office2office plc www.office2office.co.uk
Simon Moate, Chief Executive 01603 691103
Mark Cunningham, Finance Director 01603 691101
Charles Leigh-Pemberton 020 7886 2500
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