Last checked at 25 Nov 2010 12:01
Eleco plc ("Eleco" or the "Company")
AGM Statement
John Ketteley, Executive Chairman of Eleco, made the following statement at the Company's Annual General Meeting today:
"Trading conditions remained challenging in the first four months of the current year and we believe that they will continue to be so for the foreseeable future.
Nevertheless, Eleco continued with the implementation of the comprehensive restructuring plan for its Building Systems interests, the trading performance of which has improved as anticipated in the first four months of the current year. As noted in my statement in the annual report, we continue to respond promptly and with vigour to changes in demand. For this reason we are further reducing costs in our pre cast concrete business.
I am pleased to say that Eleco's Software interests delivered an outstanding trading performance in the first four months of the current year thus maintaining the momentum generated during the previous year.
The Board is encouraged by the performance of the Group during recent months following the ongoing implementation of the restructuring plan in our Building Systems operations and the continued growth of our Software business"
Enquiries:
Eleco plc
Ivor Barton - Company Secretary
+44 (0)1920 443830
Collins Stewart Europe Limited
Bruce Garrow
+44 (0)20 7523 8350