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19 Aug 2008 14:13
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Creightons plc ("the Company")
Interim Management StatementĀ
Creightons Plc today issues its interim management statement for the period 1 April 2008 to 19 August 2008.
The Company's financial position,Ā with levels of borrowing increasing,Ā has deteriorated sinceĀ Ā the last published balance sheet (31 March 2008),Ā as a result of the losses incurred during the first half of this financial year, although this has been expected to some extentĀ given the time of year and cyclic nature of the Company's business.
Sales in the first four months of this financial year (to 31 July)Ā have beenĀ lower thanĀ for the same period inĀ theĀ previous yearĀ as a result ofĀ aĀ significantĀ weakening of consumer off-take,Ā and demandĀ by theĀ Company'sĀ mainĀ customersĀ is downĀ on the same period in the previous year.
The Company is also experiencing serious price pressures from suppliers, although the board is striving to mitigate this wherever possible by seeking to pass on higher prices and reducing non-essential overhead costs.
Neither the financial information on which this statement is based nor this statement itself have been reviewed or reported upon by the Company's auditors.
The Company's AGM is being held at its offices inĀ PeterboroughĀ on 26thĀ AugustĀ 2008.
TheĀ Company's interim results for the period 1 April to 31 September 2008 will be issued on or before 31 December 2008.
Investor enquiries should be addressed toĀ the Company SecretaryĀ Nick O'Shea, Creightons plc, 1210Ā Lincoln Road,Ā Peterborough,Ā PE4 6ND, phone +44 (0) 1733 281000.
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