ARG.L Regulatory News (ARG)

24 Jan 2005 07:00

ArmorGroup International plc24 January 2005 24 January 2005 ArmorGroup International plc Pre-close period statement and new non-executive director appointed ArmorGroup International plc ("ArmorGroup" or the "Group"), the leadinginternational provider of defensive protective security services and securitytraining services, today issues its pre-close period announcement for the yearended 31st December 2004. Its maiden preliminary results announcement isscheduled for 17 March 2005. ArmorGroup's profits are expected to meet the EBITA forecast set out in theListing Particulars issued at the time of its Initial Public Offering inDecember 2004. Overall revenues are expected to be approximately US$190million, some 93% ahead of the equivalent period in 2003, and ArmorGroup expectsto deliver EBITA, before exceptional costs related to the IPO and the charge inrespect of share options, equal to, or slightly greater than, US$19.5million. ArmorGroup's growth over the last year has been driven by its activities insupport of the reconstruction work in Iraq as well as by the growth of theinternational defensive protective security services market. The Group also announces that Iain Paterson has been appointed as anon-executive director with immediate effect. Iain Paterson has over 32 yearsexperience in the oil and gas industry, a sector which is one of the key usersof ArmorGroup's services. He spent 14 years with British Petroleum plc beforejoining Enterprise Oil plc in 1984, where he was exploration director andsubsequently appointed international director in 1994. Since leaving EnterpriseOil plc in 1998, he has held a number of non-executive positions and iscurrently chairman of ITE Group plc and Sondex plc and a non-executive directorof Paladin Resources plc, Hunting PLC and MOL Rt., the Hungarian energy company. Iain is the registered and beneficial holder of 2750 shares in ArmorGroup. Noother disclosures need to be made under Section 6.F.2 (b) to (g) referred to inparagraph 16.4 of the Listing Rules in respect of this appointment. Sir Malcolm Rifkind, Chairman, said: "We are delighted to welcome Iain to the Board as we believe his internationalexperience and his knowledge of the oil and gas industry will be an enormousbenefit to the Group going forward." Jerry Hoffman, Chief Executive Officer, commenting on trading said: "The international protective security market is growing fast and should seesustained growth and new opportunities for the foreseeable future. ArmorGroupis well positioned in the market to capitalise on these opportunities and we areconfident and excited about the Group's prospects going into 2005." Enquiries: ArmorGroup International plc Jerry Hoffman, Chief Executive Officer Tel: +44 (0) 20 7808 5800David Seaton, Chief Financial Officer-Nick Melson, Communications Manager- Citigate Dewe RogersonPatrick Toyne Sewell/Sarah Gestetner Tel: +44 (0) 20 7638 9571 Notes to Editors ArmorGroup International plc. ArmorGroup, which has its headquarters in London, has over 7,600 employees andoperations in over 26 countries. It provides its services principally to firstworld national governments, major international inter-governmental organisationsand multinational corporations. It operates principally in regions of the worldwith diminished law and order or with a high risk of terrorism or which wereformer areas of conflict including the Middle East, Africa, South America, theCIS and Asia. The Group successfully listed on the London Stock Exchange inDecember 2004. ArmorGroup provides its services through two divisions: Protective SecurityServices and Security Training. The international protective security market inwhich ArmorGroup operates covers a wide range of services and operators, howeverArmorGroup is focussed solely on the provision of defensive security servicesfor people and property which support the work of its clients. This information is provided by RNS The company news service from the London Stock Exchange