BPI.L Regulatory News (BPI)

30 Jun 2006 07:02

British Polythene Industries PLC30 June 2006 PRE-CLOSE PERIOD TRADING UPDATE30 June 2006 Prior to entering the close period ahead of the Interim Results for the sixmonths to 30 June 2006, to be announced on 4 September 2006, British PolytheneIndustries PLC has issued an update on current trading. As we indicated at our AGM on 11 May, volumes, particularly in certain sectorsin the UK, have been lower than we would have liked and, although margins haveremained at reasonable levels, we anticipate that the outcome for the first sixmonths will be a little below the same period in 2005. This will still be a goodoutcome during a period of challenging market conditions and rising input costs. We have received the excellent news that the European Commission have decided toclose the files on the original investigation into anti competitive activitiesin Industrial Films. The removal of this uncertainty, which has been influencingthe development of the Group for almost five years, will allow us greaterfreedom going forward. We previously indicated that the Group was taking advice in relation to thedeficit in the Defined Benefit Pension Scheme. We are now discussing withmembers modified benefit terms, alongside a £20 million additional cashcontribution by the Group, to be made over the next five years. Currently, we donot anticipate that this will have any negative impact on earnings per share. Enquiries : Cameron McLatchie 01475 501000ChairmanBritish Polythene Industries PLC John Langlands 01475 501000Chief ExecutiveBritish Polythene Industries PLC Tim Spratt 0207 8313113Financial Dynamics This information is provided by RNS The company news service from the London Stock Exchange