Leeds Group Regulatory News (LDSG)

21 Mar 2005 12:35

Leeds Group PLC21 March 2005 Issued on behalf of Leeds Group plcDate: Monday, 21 March 2005 IMMEDIATE RELEASE Leeds Group plc Annual General Meeting At today's Annual General Meeting, Vin Murria, Non-Executive Chairman, toldshareholders: "In our preliminary results announcement made on 17 February 2005 we stated thatthe results had been satisfactory for the quarter ended 31 December 2004, thefirst quarter of the current financial year. In the first two months of 2005, the performance of Leeds Leasing has continuedto be satisfactory but sales by Hemmers-Itex have been some 14% below the levelsachieved in January and February 2004. We believe this reflects low levels ofconsumer confidence in Germany, exacerbated by a very early Easter which,compared with last year, has reduced by 2 weeks the carnival period in which weare very active. We continue to seek to increase sales of Hemmers-Itex product in export markets.We have appointed agents in Eastern Europe and have replaced an agent in a majorWestern European market in which we have witnessed a marked decline in salesover the last three years. These actions will lead to improved sales in themedium term, but will cost in excess of £100,000 which will, in the short term,restrict profitability." All resolutions were duly passed. Enquiries:Malcolm Wilson, Group Managing Director Fiona TooleyLeeds Group plc Citigate Dewe RogersonTel: 0113 391 9000 Tel: 0121 455 8370 This information is provided by RNS The company news service from the London Stock Exchange