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15 Jul 2014 07:00
Press Release | 15 July 2014 |
API Group plc
("API" or the "Group")
AGM Statement
API Group plc (AIM:API), the leading manufacturer of specialist foils and packaging materials, is holding its Annual General Meeting today at 2.00 p.m. at the offices of Eversheds LLP, One Wood Street, London EC2V 7WS.
At the Annual General Meeting, Richard Wright, Chairman of API Group plc, will provide the following trading update:
"The Board's expectations for the current financial year remain consistent with what was indicated when full year results were announced on June 4th 2014.
Laminates and Foils Europe are trading well and Holographics is on track to at least hold the breakeven performance established in the final quarter of last year. Foils Americas has continued to experience reduced demand from the metallic pigment sector, exacerbated by destocking of the supply chain. Volumes are expected to start to recover in the second half and action has already been taken to re-align operating costs.
Overall, the Board continues to expect progression in results compared to last financial year.
- Ends -
For further information:
API Group plc | |
Andrew Turner, Group Chief Executive | Tel: +44 (0) 1625 650 334 |
Chris Smith, Group Finance Director
| www.apigroup.com |
Cairn Financial Advisers LLP (Nominated Adviser) | |
Tony Rawlinson / Avi Robinson | Tel: +44 (0) 20 7148 7900 |
www.cairnfin.com | |
Numis Securities (Broker) | |
James Serjeant | Tel: +44 (0) 20 7260 1000 |
www.numis.com |
Media enquiries:
Abchurch | |
Henry Harrison-Topham / Quincy Allan | Tel: +44 (0) 20 7398 7710 |
quincy.allan@abchurch-group.com | www.abchurch-group.com |
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