Last checked at 29 Apr 2022 10:18
29 April 2022
Leeds Group plc
(the "Company")
Trading Update
In the Interim Statement announced on 17 January 2022, the Company commented that the Covid-19 pandemic continued to impact trading activities, with revenues in both trading companies, Hemmers/Itex Textil Import Export GmbH and Stoff Ideen KMR GmbH, having been significantly reduced in the first half of the year compared with the previous year.
This trend has continued in the second half of the year, despite the easing of Covid-19 restrictions, with consumer confidence further affected by the recent conflict in Ukraine and its impact on domestic expenditures.
As indicated in the Interim Statement announcement, management has taken steps to reduce costs to reflect reduced activity levels and these efforts will continue. The Company does not expect the German government to provide any further financial support schemes as Germany is no longer in a lockdown situation. Management is currently undertaking an operational review of both businesses to assess what further actions need to be taken to return the Company to profit.
This announcement contains inside information for the purposes of UK Market Abuse Regulation and has been arranged for release by Jan G Holmstrom, Chairman.
Enquiries:
Leeds Group plc Dawn Henderson | Tel: 01937 547877 |
Cairn Financial Advisers LLP Nominated Adviser Liam Murray / Sandy Jamieson | Tel: 020 7213 0880 |