HYNS.L Regulatory News (HYNS)

Haynes Publishing Group P.L.C. ("the Group")

Operational update

Following the conclusion of its six month strategic review of the business at the end of June (first announced on 18 December in the pre-interim close statement), Haynes Publishing Group has today announced that it proposes to focus its business on the areas with the largest growth potential - DIY manuals; information systems for use by professional mechanics; and the expansion of its digital offering, including the development of additional digital platforms.

As a result of these changes, it is restructuring parts of the UK business. It has commenced a consultancy period for staff across its Haynes Books Division and distribution teams, with a small number of redundancies (voluntary and, if necessary, compulsory) proposed from the Books Division.

It is also closing its distribution site, situated at Haynes' headquarters near Yeovil, and outsourcing this entire function to an external provider, with all staff transferring to the new partner under TUPE Regulations.

J Haynes, Chairman of the Group, commented: "the review has enabled us to focus on the core strengths of the business and we are confident that we now have the right strategy in place to return the business to growth. This involves returning to our grass roots, while adapting to modern needs by enhancing our digital capabilities and expanding our presence in the professional market through HaynesPro.

Regrettably we will need to reduce UK staffing levels in this process but we need to focus our business on our strongest performing areas to drive growth. We will of course offer all the support we can to those who will need to find new positions."

The Group will report the results of its 4th quarter trading and its final results for the financial year ending 31 May 2013 on 23 September 2013.