9 Jan 2009 07:00
9 January 2009
Embargoed for release at 7.00am
Enfis Group plc
("Enfis" or the "Company")
Trading update
The Board of Enfis (the "Board") announces that the Company has traded in line with management expectations for the year ended 31 December 2008. The strong performance for the period has been underpinned by a number of new contract wins, distribution agreements and design wins during the period.
Looking forward, the Company has established a strong pipeline in excess of £20 million. In 2009, the overall rate of revenue growth continues to mirror what has been achieved in 2008. The Company continues to win new contracts and attract new global distributors. This is predominantly fuelled by a suite of new products released during 2008 and technological improvements due for release Quarter 1 2009 that will increase the typical light output of existing light engines and arrays by 50%. Notwithstanding this momentum, the company has continued to streamline the cost base of its operations as a safeguard against any potential impact of the current macro economic conditions.
The Board welcomes the recent EU and international initiatives that accelerate the use of more energy efficient lighting within the coming years. Solid state lighting (SSL) is five times more efficient than incandescent lighting, and the Board believes the Company is well positioned to capitalise on its strong market position, as businesses and governments alike are looking to invest in efficient technology that aims to reduce energy costs.
The acceleration in SSL markets together with the strong pipeline and successful product delivery history in 2008 give the Board continued confidence in Enfis' future.
Enfis expect to announce its results for the year ended 31 December 2008, on 16 March 2009.
Enquiries
Enfis Group plc (www.enfis.com) Tel: +44 (0) 1792 485 660
Shaun Oxenham, Chief Executive Officer
Giles Davies, Chief Financial Officer
Noble & Company Limited Tel: +44 (0) 20 7763 2200
John Llewellyn-Lloyd
Sam Reynolds
Threadneedle Communications Tel: +44 (0) 20 7653 9850
Graham Herring
Josh Royston