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17 Aug 2009 07:00
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Creightons plc ("the Company")
Interim Management StatementĀ
Creightons Plc today issues its interim management statement for the period 1 April 2009 to 14 August 2009 ("the Relevant Period").
The Company's financial positionĀ has deteriorated sinceĀ Ā the last published balance sheet (31 MarchĀ 2009),Ā as a result of the losses incurred during the firstĀ quarterĀ 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 firstĀ threeĀ months of this financial year (toĀ 30 June) have beenĀ lower thanĀ for the same period in previous yearsĀ as a result ofĀ aĀ significantĀ furtherĀ weakening of consumer off-take and demandĀ by theĀ Company'sĀ mainĀ customersĀ is downĀ compared with the same period last 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.Ā This has resulted in significant savings so far this year, such that the losses incurred in the first three months of this year are less than those incurred during the corresponding period last year, despite lower sales levels.
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 onĀ 23 September 2009.Ā .
TheĀ Company's interim results for the period 1 April to 31 SeptemberĀ 2009Ā will be issued on or before 31 DecemberĀ 2009.
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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