Altitude Group Regulatory News (ALT)

27 Jul 2007 07:01

Dowlis Corporate Solutions plc27 July 2007 Date: 27th July 2007 On behalf of: Dowlis Corporate Solutions plc ("Dowlis", the "Company" or the "Group") Embargoed until: 0700hrs Dowlis Corporate Solutions plcPre-Close Statement Dowlis Corporate Solutions PLC (AIM: DWL), the marketing, information andlogistics solutions business, is pleased to make the following trading updateprior to the announcement of its interim results for the six months to 30th June2007, which is expected to take place on 27th September 2007. The Board can report progress from the new divisional structure put in placeearlier in the year which has emphasised a dual focus: improving the performancein the Promotional Marketing business and continuing to build a strong presencein Information and Exhibitions. Whilst the pace of change arising from some of our initiatives has yet to reachthe desired level, the Board expects Group turnover for the first half of 2007to be circa £10.5 million, up 13% of the comparative period last year. Withinthis, the Trade OnlyTM Information and Exhibitions division performedparticularly strongly and was up over 40% in the period, with turnover of circa£1.7 million. Profit before tax pre exceptionals is expected to be around£450,000, over 40% ahead of the corresponding period in 2006. Whilst the first half performance is very encouraging, the Company expectsturnover and profit for the full year to be below current expectations,primarily due to lower than expected growth in the Promotional Marketingdivision, which represented over 80% of Group turnover in the first half of2007. The Company remains confident that the initiatives both planned and inprogress will deliver solid results over the medium term. For further information: Dowlis Corporate Solutions plc www.dowlis.com Martin Varley, Chief Executive Officer 0870 224 6677 Daniel Stewart & Company plc Tom Jenkins / Oliver Rigby 020 7776 6550 Redleaf Communications Emma Kane/Sanna Lehtinen 020 7822 0200 This information is provided by RNS The company news service from the London Stock Exchange