Last checked at 14 Aug 2014 12:55
Creightons plc ("the Company" and "the Group")
Interim Management Statement
Creightons Plc today issues its interim management statement for the period 1 April 2014 to 14 August 2014 ("the Relevant Period").
The Group has commenced a process of upgrading and rationalisation as our continued sales growth begins to challenge our present capacity and systems. This investment will provide the resources to meet the demands of continuing growth which is in line with our long term goals.
Whilst this has had what we believe is a temporarily adverse effect on gross margins and operating profit, the Group's financial position has still improved since the last published balance sheet (31 March 2014) due to the receipt of funds from the disposal of the Group's interests in Twisted Sista announced on 27 May 2014. The Group also invested in extra marketing activity in the first quarter focused on new higher-value products which it is anticipated will improve sales later this year and into next year.
Whilst it cannot be certain at this stage that this investment will inevitably carry forward into improved earnings in the full year, the board sees such investment in additional capacity, improved systems and focus on higher-margin products for our customers and consumers as necessary for sustained growth in both sales and profits.
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 Group's interim results for the period 1 April to 30 September 2014 will be issued on or before 30 November 2014.
Investor enquiries should be addressed to the Company Secretary Nick O'Shea, Creightons plc, 1210 Lincoln Road, Peterborough, PE4 6ND, phone +44 (0) 1733 281000.
NDJ O'Shea, ACMA CGMA
Director, Creightons plc
14 August 2014