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26 Jan 2011 09:40
Journey Group Plc
Trading Update
Journey Group plc (together with its subsidiaries the "Group"), a leading provider of in-flight products, catering and media services to the travel and airline industry, today issues a trading update ahead of the Group's results for the year to 31 December 2010.
Operating result before share based payments and exceptional items for the year reflects a substantial improvement over 2009 and was in line with management expectations.
The further £3.5 million in cash received from the disposal of the 49% stake in the Alpha-Airfayre Limited joint venture, announced in November 2010, contributed to the notable reduction in the Group's net debt position to £0.2.m as of December 2010.
Stephen Yapp, Executive Chairman said "We have seen significant operational progress made during the year continue through to the year end. With the refinancing and strategic repositioning completed, I am confident that 2011 will see the Group consolidate the platform for growth".
Journey Group plc contacts:
Stephen Yapp
+44 (0)20 8606 2000
info@journeygroup.plc.uk
Carl Fry
+44 (0)20 8606 2000
info@journeygroup.plc.uk
Peel Hunt (Nominated Adviser & Broker)
+44 (0)20 7418 8900
Daniel Harris
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