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Trading Statement

27 Jun 2013 13:36

RNS Number : 0294I
Swallowfield PLC
27 June 2013
 

Swallowfield plc

("Swallowfield" or the "Company")

 

Trading Update

 

Swallowfield plc, the leading cosmetics, toiletries and household goods group, announces the following pre close trading update for the 52 weeks ending 22 June 2013:

 

The industry continues to be affected by weak consumer demand particularly in UK and European markets. Additionally, Swallowfield is in the process of reducing its historical dependency on a few larger customers by securing new customers and launching new products, the exact timing of which is difficult to predict.

 

As a result of both of these factors, we now expect full year revenue to be marginally below current market forecasts for 2013, with some of this revenue shortfall moving into the new fiscal year.

 

We have already taken strong action to reduce costs, improve efficiencies and tightly control working capital. These actions have resulted in the business returning to profitability in the second half year, but this recovery in profitability will not be as strong as originally anticipated. However, working capital will be below previous estimates and we anticipate that our net debt position at the end of the year will also be lower than previously advised.

 

Outlook

 

The cost savings and efficiency improvements that the Company has already implemented have come through in line with expectations in the second half and will deliver a positive full year impact in the next financial year. The outlook for fiscal 2014 therefore remains unchanged.

 

The full year results will be announced to the market on the 19th September 2013.

 

For further information please contact:

Swallowfield plc

Ian Mackinnon, Chief Executive Officer 01823 662 241

Mark Warren, Group Finance Director 01823 662 241

 

Shaun Dobson/Jenny Wyllie N+1 Singer 0207 496 3000

Alan Bulmer Investor Focus International 07831 654744

Chris Lawrance JBP Public Relations 0117 907 3400

 

Notes to Editors:

Swallowfield plc is a market leader in the development, formulation and supply of cosmetics, toiletries and related household products to the own label and branded sectors. We pride ourselves on being a customer orientated, innovative, flexible and responsive company and combine high quality, competitive products with strong customer service - developing close partnerships with our customers and an in depth knowledge of their requirements.

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTSEDFEWFDSEDM
Date   Source Headline
25th Feb 20107:00 amRNSHalf Yearly Report
19th Feb 20102:31 pmRNSHolding(s) in Company
27th Jan 201012:29 pmRNSHolding(s) in Company
3rd Dec 20093:20 pmRNSDirectorate Change
18th Nov 20094:28 pmRNSHolding(s) in Company
13th Nov 20093:17 pmRNSHolding(s) in Company
5th Nov 20093:28 pmRNSAGM Statement
3rd Nov 200912:05 pmRNSDirectorate Change
27th Oct 20094:33 pmRNSTotal Voting Rights
15th Oct 20092:06 pmRNSExercise of options and Directors' dealing
8th Oct 20094:37 pmRNSPosting of Annual Report and Accounts
10th Sep 20097:00 amRNSFinal Results
26th Feb 20097:00 amRNSHalf Yearly Report
12th Jan 20097:00 amRNSChange of Adviser
24th Nov 20084:24 pmRNSDirector/PDMR Shareholding
7th Nov 20087:00 amRNSAGM Statement
16th Oct 20081:50 pmRNSHolding(s) in Company
13th Oct 20084:41 pmRNSAnnual Report and Accounts
13th Oct 200810:13 amRNSDirectorate Change
17th Sep 200811:15 amRNSDirector/PDMR Shareholding
15th Sep 20087:00 amRNSDirector/PDMR Shareholding
11th Sep 20087:00 amRNSFinal Results
5th Sep 200810:00 amRNSNotice of Results
15th Jul 20087:00 amRNSRe Joint Venture
2nd Jun 200812:07 pmRNSHolding(s) in Company
28th Feb 20087:01 amRNSInterim Results
15th Jan 200811:36 amRNSHolding(s) in Company
11th Jan 20087:01 amRNSNew Cosmetics Operation
10th Jan 20083:49 pmRNSDirector/PDMR Shareholding
7th Jan 200810:34 amRNSDirector/PDMR Shareholding
28th Dec 200711:38 amRNSSale and Leaseback
8th Nov 20072:43 pmRNSAGM Statement
7th Nov 20074:10 pmRNSHolding(s) in Company
2nd Nov 20075:31 pmRNSre nomination of directors
2nd Nov 20077:00 amPRNStatement re nomination of new Swallowfield directors
17th Oct 200711:33 amRNSDirector/PDMR Shareholding
16th Oct 20073:30 pmRNSAnnual Report and Accounts
15th Oct 20077:01 amRNSDirectorate Change
12th Oct 20073:48 pmRNSDirector/PDMR Shareholding
13th Sep 20077:01 amRNSFinal Results
5th Sep 200710:29 amRNSHolding(s) in Company
17th Aug 20074:46 pmRNSAIM Rule 26
15th Jun 20073:45 pmRNSHolding(s) in Company
6th Jun 20077:01 amRNSTrading Statement
18th May 20074:29 pmRNSHolding(s) in Company
17th May 200712:21 pmRNSTrading Update
23rd Apr 200710:56 amRNSHolding(s) in Company
13th Apr 20072:47 pmRNSHolding(s) in Company
2nd Mar 20077:30 amRNSInterim Results
6th Feb 200712:49 pmRNSHolding(s) in Company

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