20 Nov 2008 07:00
BEST.L
Best of the Best plc
("the Company")
Trading Update
Best of the Best PLC, which displays luxury cars as competition prizes within airport terminals and online, is today announcing a trading update for the 6 month period to 31 October 2008.
Trading Update
At the time of our preliminary results, released in July, we said the trading prospects were positive for the new financial year. Since then the global financial and economic environment has deteriorated significantly and trading conditions have become increasingly unpredictable.
A slowdown in passenger numbers in UK airports has had a negative impact on the business. Trading for the month of September was particularly disappointing although a good recovery was seen during October. In light of the difficult economic climate, the Company is making significant cost savings across the business. Although we are cautious with regard to trading prospects in the next six months we have maintained high cash balances and remain confident in expanding the existing business, both in airports and online. We are also well placed to capitalise on the opportunities in the skill gaming sector that may emerge.
The interim results for the six months ended 31 October 2008 are expected to be announced on 7 January 2009.
Enquiries:
| Best of the Best plc | William Hindmarch, Chief Executive Rupert Garton, Commercial Director
| 020 7371 8866 |
| Charles Stanley Securities (Nominated Adviser)
| Mark Taylor/Freddy Crossley | 020 7149 6000 |
| Biddicks | Shane Dolan | 020 7448 1000 |