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Trading Update

3 Jul 2012 15:00

RNS Number : 8239G
Hampson Industries PLC
03 July 2012
 



3 July 2012

 

Hampson Industries PLC

("Hampson" or "the Company", and together with its subsidiaries, "the Group")

 

Trading update

 

 

In the announcement dated 6 June 2012, it was stated that, although the assessment of strategic options was ongoing, the Board considered that it was becoming clear that there was a material risk that there will be little or no remaining value for existing shareholders. Since then, the Company has been preparing a revised business plan as part of that strategic review. Shareholders should be aware that this plan will reflect worsening trading conditions for the Group's tooling activities, which therefore increases that material risk.

 

While the Group's tooling businesses remain profitable, the relatively low level of new programme awards, on which this division mainly depends, in conjunction with the perceived uncertainty associated with the Group, means that trading in that division is challenging.

 

The division continues to make deliveries against the Group's largest tooling order, on which, as previously announced, issues were identified during the testing and customer approval process. Hampson is constructively engaged with the customer at senior management level to resolve the issues.

 

Furthermore, the proposed sale of the BHW unit is no longer being pursued, owing to significant production rescheduling by a key customer and the decision by another customer to retain in house activities which it had planned to outsource to BHW. Operational changes are being identified at BHW to reduce the impact of BHW's performance on the Group.

 

The Group's overall results for the current year are expected to be materially impacted by these trading issues.

 

As noted in the announcement dated 27 June 2012, the Board of Hampson continues to review and assess the strategic options available to the Group and the formal sale process continues. The Group's results for the year ended 31 March 2012 are expected to be announced on 31 July 2012.

 

The Group is in discussions with its lenders who continue to be supportive whilst the Group explores its strategic options.

 

Further announcements will be made as appropriate.

 

 

Enquiries:

 

M:Communications

 

Ann-marie Wilkinson / Maria Souvorov +44 207 920 2330

 

Notes to editors:

 

 

Hampson is listed on the main market of the London Stock Exchange (Symbol: HAMP). For more information on Hampson: www.hampsongroup.com

 

A copy of this announcement will be available at www.hampsongroup.com

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTBKNDQNBKDQOK
Date   Source Headline
23rd Apr 201211:19 amRNSForm 8.3 - Hampson Industries Plc
20th Apr 20122:48 pmRNSForm 8.3 - Hampson Industries plc
20th Apr 201210:24 amRNSForm 8.3 - Hampson Industries Plc
19th Apr 20122:46 pmRNSForm 8.3 - Hampson Industries plc
18th Apr 20122:50 pmRNSForm 8.3 - Hampson Industries plc
17th Apr 20122:41 pmRNSForm 8.3 - Hampson Industries plc
13th Apr 20122:42 pmRNSForm 8.3 - Hampson Industries plc
12th Apr 20122:47 pmRNSForm 8.3 - Hampson Industries plc
11th Apr 20122:50 pmRNSForm 8.3 - Hampson Industries plc
10th Apr 20124:41 pmRNSSecond Price Monitoring Extn
10th Apr 20124:35 pmRNSPrice Monitoring Extension
10th Apr 20124:31 pmRNSTrading Statement
10th Apr 20122:44 pmRNSForm 8.3 - Hampson Industries plc
30th Mar 20123:49 pmRNSForm 8.3 - Hampson Industries
15th Mar 20129:35 amRNSForm 8.3 - Hampson Industries Plc
7th Mar 20124:40 pmRNSSecond Price Monitoring Extn
7th Mar 20124:35 pmRNSPrice Monitoring Extension
28th Feb 20129:03 amRNSReplacement Form 8 (OPD) Hampson Industries PLC
23rd Feb 201212:23 pmRNSForm 8 (OPD) Hampson Industries PLC
17th Feb 20122:30 pmBUSForm 8.3 - Hampson Industries PLC
16th Feb 20122:12 pmBUSForm 8.3 - Hampson Industries PLC
16th Feb 201212:23 pmRNSForm 8.3 - Hampson Industries PLC
15th Feb 20125:49 pmRNSForm 8.3 - Hampson Industries Plc
15th Feb 20122:56 pmRNSForm 8.3 - Hampson Industries plc
15th Feb 20122:23 pmBUSForm 8.3 - Hampson Industries PLC
15th Feb 201211:48 amRNSForm 8.3 - [Hampson Industries]
15th Feb 201210:17 amRNSForm 8.3 - Hampson Industries Plc
15th Feb 20128:27 amRNSForm 8.3 - [Hampson Industries plc]
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14th Feb 20124:35 pmRNSPrice Monitoring Extension
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24th Nov 20114:40 pmRNSSecond Price Monitoring Extn

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