Last checked at 28 Oct 2019 07:00
28 October 2019
Autins Group plc
("Autins", the "Company" or the "Group")
Trading Update and Notice of Results
Autins Group plc (AIM: AUTG), a leading designer, manufacturer and supplier of acoustic and thermal insulation solutions for the automotive sector, provides the following update on trading for the year ended 30 September 2019.
The Board expects to report FY19 results in line with market expectations.
The extensive management actions employed to reduce costs and increase operational efficiency have successfully delivered improved profit margins. The Group is well placed with sufficient capacity to take advantage of the many opportunities in its pipeline to grow and diversify the business.
Sales to customers outside of UK are progressing well and in this regard, the Board is pleased with the developments made by Neptune, the Group's lightweight, high performance material, in securing multiple new business client wins and with production levels ramping up towards the end of FY19, which has continued in the new financial year. The Group continues to successfully pursue work on new vehicle platforms with new and existing OEM customers, as part of its overall growth and diversification strategy.
Gareth Kaminski-Cook, Chief Executive Officer of Autins Group, comments: "This has been a challenging year for both the industry and the Group, but it has also been a year of repositioning, recovery and new business wins. The positive momentum is encouraging and, combined with a stronger balance sheet following the successful placing in the summer, gives cause for optimism for the year ahead."
Notice of Results
Autins will publish results for the year ended 30 September 2019 on 11th December 2019.
The management team will be hosting a presentation for analysts on the day of results at 9:30am at the offices of Newgate Communications, Sky Light City Tower, 50 Basinghall Street, London, EC2V 5DE.
For further information please contact:
Autins Group plc Adam Attwood, Non-Executive Chairman Gareth Kaminski-Cook, Chief Executive Officer James Larner, Chief Financial Officer
| Via Newgate |
N+1 Singer (Nominated Adviser and Broker) Mark Taylor / Lauren Kettle (Corporate Finance) Mia Gardner (Corporate Broking)
| Tel: 020 7496 3000 |
Newgate Communications (Financial PR) Adam Lloyd Tom Carnegie
| 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 flooring, furniture and wider industrial applications.
The Group is one of the leading suppliers of noise and heat management products in the automotive market, producing and supplying a broad range of support to some of the world's leading vehicle manufacturers.