CSLT.L Regulatory News (CSLT)

6 Sep 2006 07:01

Cosalt PLC06 September 2006 Cosalt plc("Cosalt", the "Group" or the "Company") Trading Update The Board of Cosalt reports today the following update on trading and the saleprocess for Banner Schoolwear. Banner Schoolwear has had a slower than expected 'back to school' season butprofits are expected to be in line with last year. Cosalt:Ballyclare(Safetywear & Protective Clothing) has had a lower than anticipated order intakeand some delays in the planned move of the supply chain to the Far East. As aconsequence, Group results for the year to 29 October 2006 will be significantlybelow market expectations. The Safety & Protection business continues to trade satisfactorily and therecovery at Holiday Homes, in spite of weak market conditions, continues withencouraging prospects for the 2007 season for both caravan holiday homes andcustom homes. The sale process of Banner Schoolwear is proceeding and the Company has enteredinto a period of exclusivity for continuing negotiations with the managementteam. With the recent arrival of the Group's new Chief Executive, Per Jonsson, theBoard reinforces its commitment to strategic change and its aim to maintain thecurrent level of dividend. 6 September 2006 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