Last checked at 31 Mar 2017 07:00
31 March 2017
Autins Group plc
(the "Company" or the "Group")
AGM Statement
Autins Group plc (AIM: AUTG), a leading UK designer, manufacturer and supplier of acoustic and thermal insulation solutions for the automotive sector, will hold its Annual General Meeting today at the offices of Freeths LLP, 3rd Floor, The Colmore Row Building, Colmore Circus, Queeensway, Birmingham commencing at 12 noon, where the Group's Chairman, Adam Attwood, will provide the following statement:
"During 2017 we have continued to invest for growth. We continue to seek approvals and commercial volumes for our Neptune product and to build on the progress made in 2016. Our strategic plans are designed to deliver sustainable growth through product and process innovation whilst delivering geographical, sector and customer base diversification.
In the near term the profile of our results will be significantly weighted to the second half of the year and is dependent on successful deliveries of Neptune product into the market. We expect solid growth for the full year, however, as already announced on 7 March 2017, this will fall significantly short of previously anticipated levels due to the timing and rate of growth in our automotive business not being as strong as we had expected. The Board remains confident of the importance of our diversification strategy and we are committed to realising the full potential of the Autins Group.
The Group will release interim results for the six months ending 31 March 2017 in June 2017."
For further information please contact:
Autins Group plc Adam Attwood, Non-Executive Chairman Michael Jennings, Chief Executive James Larner, CFO
|
Via Newgate |
Cantor Fitzgerald Europe (Nominated Adviser and Broker) Philip Davies Will Goode Callum Butterfield
| Tel: 020 7894 7000 |
Newgate Communications (Financial PR) Adam Lloyd Ed Treadwell James Browne
| Tel: 020 7653 9850
|
About Autins
Autins specialises in the design, manufacture and supply of acoustic and thermal insulation solutions primarily in the automotive sector but with an increasing focus on other sectors, including white goods, power generation, marine, apparel, rail, commercial vehicles and industrial sectors.
The Group is one of the leading UK suppliers of noise and heat management products in the automotive market, producing and supplying over two million parts per month to customers including some of the world's leading vehicle manufacturers.