CSLT.L Regulatory News (CSLT)

4 Apr 2005 07:00

Cosalt PLC04 April 2005 Cosalt plc AGM Statement At the Annual General Meeting, to be held at noon today, the Chairman, DavidBolton, will give shareholders the following update on current trading: "The Board of Cosalt is pleased to announce that trading in the currentfinancial year in the Industrial Services Division, which incorporates thebusinesses of marine safety, workwear/corporatewear and schoolwear, has been inline with expectations. We reported at the time of our preliminary results, in early February, thatCosalt Holiday Homes was experiencing a more difficult trading environment.Although we had then seen some encouraging signs of an improvement in themarket, these have not continued into the second quarter. Trading in this arearemains challenging and in response we have reduced production levels in orderto maintain a tight control over stocks and cash. We remain of the view thatthe present downturn is typical of the four to five year cycle experiencedacross the industry and that trading should recover to more normal levels in duecourse. Cosalt Custom Homes is currently trading well. The Board expects that the performance of Cosalt Holiday Homes will lead toGroup profits in the current financial year being well below marketexpectations. Nevertheless, cash control remains good and we expect to be ableto maintain the Company's dividend policy." 4th April 2005 ENQUIRIES: Cosalt plc Tel: 01472 504504Bill Wood, Managing DirectorNeil Carrick, Finance Director College Hill Tel: 020 7457 2020Mark Garraway Email: mark.garraway@collegehill.comMatthew Gregorowski Email: matthew.gregorowski@collegehill.com This information is provided by RNS The company news service from the London Stock Exchange