Havelock Europa Regulatory News (HVE)

25 January 2016

HAVELOCK EUROPA PLC

("Havelock" or the "Company")

Trading Statement

Havelock Europa (HVE.L), the international interior solutions provider, announces a trading update in respect of the year ended 31 December 2015.

The business "right sizing" and simplification programme, announced on 1 September 2015, is gaining momentum and the cost reductions identified as a result of the programme were achieved by 31 December 2015.

Trading in the final quarter was as expected and therefore the Board expects the trading results for the year ended 31 December 2015 to be in line with its expectations at the time of the trading update given on 1 September 2015.

The business continues to focus on careful management of its working capital and the Board is pleased to report that, as at 31 December 2015, the Group was debt free with net cash of £1.0m comprising cash of £1.9m and finance leases of £0.9m. This compares favourably with the £0.2m net cash at 31 December 2014.

The Board expects to announce the Company's Preliminary Results for the financial year ended 31 December 2015 on Thursday 14 April 2016.

David Ritchie, Chief Executive, said: "We are beginning to see the benefits of the measures taken in late 2015 and, although trading continues to be challenging, particularly in the retail sector, we are encouraged to enter 2016 with an order book of £23m for in-year delivery which is 15% up on 2015."

Enquiries

Havelock Europa

David Ritchie, Chief Executive Tel. 01592 648480

Ciaran Kennedy, Finance Director

WH Ireland Group plc (Nomad) Tel. 020 7220 1650

Chris Fielding

Charlotte Street Partners (media enquiries) Tel. 0131 516 5310

Rob Ballantyne

David Gaffney

www.havelockeuropa.com