1 Oct 2009 09:23
HAYNES PUBLISHING GROUP P.L.C. ("the Haynes Group")
Interim Management Statement
Quarter 1 - 13 weeks to 28 August 2009
First quarter trading and business highlights
Haynes Group revenue, excluding revenue from the UK print operation sold in February 2009, ended the first quarter of financial year ended 31 May 2010 in line with last year, this despite the continuing difficult market conditions.
Sales in the UK and Europe have had an encouraging start to the financial year, up 8% on the prior period. Revenue in the UK was ahead by 10% helped by strong sales in the general publishing division, which ended the 13 week period 19% ahead of last year while revenue from its automotive manuals tracked in line with last year. In the Netherlands, revenue from Vivid, after translation to Sterling, ended the period 3% ahead of last year.
In the US, market conditions remain largely unchanged from that reported at the year-end with customer replenishment orders continuing to fall short of their own sales levels. As a result, US revenue in Sterling ended the 13 weeks 6% down on the same period last year.
With no major additions or disposals during the period, there have been no significant changes in the financial position of the Group since 31 May 2009 year-end.
Cautionary Statement :
This report contains certain forward-looking statements with regards the financial condition and results of the operations of Haynes Publishing Group P.L.C. These statements and forecasts involve risk factors which are associated with, but are not exclusive to, the economic and business circumstances occurring from time to time in the countries and sectors in which the Group operates. These forward-looking statements are made only as at the date of this announcement. Nothing in this announcement should be construed as a profit forecast. Except as required by law, Haynes Publishing Group P.L.C. has no obligation to update the forward-looking statements or to correct any inaccuracies therein.
Enquiries:
| Haynes Publishing Group P.L.C. | |
| John Haynes OBE, Chairman | 01963 442009 |
| Eric Oakley, Group Chief Executive | 01963 442009 |
| Smith & Williamson | |
| Barrie Newton | 0117 376 2117 |
Background to the Haynes Group
Haynes Publishing Group P.L.C. is the worldwide market leader in the production and sale of automotive and motorcycle repair manuals. Every Haynes manual is based on a complete vehicle strip-down and rebuild in our workshops, so that the instructions to our customers are inherently practical, accurate and easy to follow.
Through its subsidiary Vivid Holding BV, with headquarters in the Netherlands, the Haynes Group has become a leading European supplier of digital technical information to the motor trade, thereby broadening the Group's business to include professional as well as DIY mechanics and enthusiasts.
The Haynes Group also publish an extensive array of books about motoring and motor sport as well as other transport, aviation, military and general DIY related activities.