1 Jun 2018 07:00
Haynes Publishing Group P.L.C.
2018 Trading Update
Haynes Publishing Group ("Haynes" or "the Group") is pleased to announce a trading update for the financial year ended 31 May 2018.
The Group is on target to report adjusted profit before tax (excluding adjusting items and acquired intangible amortisation) up c. 10% from the prior year and ahead of current market forecasts by c. 7% for the year ended 31 May 2018.
The net impact of adjusting items is expected to increase reported profit before tax by c. £0.6 million to leave the Group approximately 30% ahead of the prior year.
As reported at the interim results in January, the changes to the US federal tax rate will reduce the US net deferred tax assets and liabilities by c. £0.8 million. Therefore, Group profit after tax and adjusting items will be c. 5% lower than the prior year.
The Group will be announcing its full year results for the financial year ended 31 May 2018 on 5 September 2018.
Eddie Bell, Group Chairman, said:
"I am pleased to report that the Group's performance is tracking ahead of market forecasts.
Our focus remains on the delivery of content, data and solutions for our local and global partners. To maintain the current momentum, Haynes will continue to invest in our people and technology to ensure we provide reliable, accurate and valuable information."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
Enquiries:
Haynes Publishing Group P.L.C. +44 1963 442009
E Bell, Group Chairman
J Haynes, Chief Executive Officer
Investor Contact: Panmure Gordon (UK) Limited +44 20 7886 2500
James Stearns
Media Contact: New Century Media +44 20 7930 8033
Catherine Hems