If you would like to learn more about future focusIR related events and roundtables, please submit your details here

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksHAMP.L Regulatory News (HAMP)

  • There is currently no data for HAMP

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
24th Nov 20114:35 pmRNSPrice Monitoring Extension
24th Nov 20112:59 pmRNSDirector/PDMR Shareholding
24th Nov 201110:21 amRNSDirector/PDMR Shareholding
24th Nov 20118:42 amRNSDirector/PDMR Shareholding
18th Nov 20114:35 pmRNSPrice Monitoring Extension
16th Nov 20117:00 amRNSHalf Yearly Report
2nd Nov 20114:35 pmRNSPrice Monitoring Extension
1st Nov 20114:35 pmRNSPrice Monitoring Extension
31st Oct 20111:18 pmRNSNotice of Results
28th Oct 20117:00 amRNSAppointment of Non-Executive Chairman
4th Oct 20112:45 pmRNSDisposal
30th Sep 20114:09 pmRNSDirector/PDMR Shareholding
29th Sep 201110:08 amRNSDirector/PDMR Shareholding
19th Sep 201112:00 pmRNSResult of EGM
8th Sep 20114:20 pmRNSResult of AGM
6th Sep 20113:45 pmRNSAnnual Information Update
2nd Sep 20118:17 amRNSShareholder Circular
31st Aug 20113:04 pmRNSDirector/PDMR Shareholding
26th Aug 20119:56 amRNSProposed Disposal of Shims Businesses
22nd Aug 20115:03 pmRNSDirector/PDMR Shareholding
8th Aug 201110:59 amRNSHolding(s) in Company
8th Aug 20117:00 amRNSInterim Management Statement
2nd Aug 20114:40 pmRNSSecond Price Monitoring Extn
2nd Aug 20114:35 pmRNSPrice Monitoring Extension
13th Jul 20111:02 pmRNSHolding(s) in Company
8th Jul 20115:00 pmRNSHolding(s) in Company
8th Jul 20119:46 amRNSHolding(s) in Company
7th Jul 20119:33 amRNSHolding(s) in Company
6th Jul 20112:03 pmRNSHolding(s) in Company
5th Jul 201110:08 amRNSHolding(s) in Company
30th Jun 20117:00 amRNSFinal Results
13th Jun 20119:00 amRNSDirectorate Change
3rd Jun 20113:40 pmRNSDispute Settlement and Notification of Results
10th Mar 20119:51 amRNSBlocklisting Interim Review
16th Feb 20117:00 amRNSInterim Management Statement
3rd Dec 20103:21 pmRNSDirector/PDMR Shareholding
2nd Dec 20102:16 pmRNSHolding(s) in Company
24th Nov 20107:00 amRNSHalf Yearly Report
9th Nov 201011:47 amRNSHolding(s) in Company
1st Nov 201010:08 amRNSHolding(s) in Company
7th Oct 20102:53 pmRNSScrip Dividend Elections - Final Dividend
29th Sep 201012:14 pmRNSDirector/PDMR Shareholding
17th Sep 20102:43 pmRNSListing Rule 9.6 Notification
16th Sep 20103:51 pmRNSDirector/PDMR Shareholding
16th Sep 20101:16 pmRNSDirector/PDMR Shareholding
16th Sep 20107:00 amRNSRecord Tooling Order and Business Review
15th Sep 20104:57 pmRNSScrip Dividend Reference Price
15th Sep 20104:35 pmRNSPrice Monitoring Extension
10th Sep 20109:15 amRNSBlocklisting Interim Review
7th Sep 20104:21 pmRNSResult of AGM

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.