Last checked at 17 May 2019 12:35
Leeds Group plc
("Leeds Group" or the "Group")
Trading Update
Leeds Group wishes to update the market on its expectations for the financial year ending 31 May 2019.
As announced on 25 March 2019, the Group's operating subsidiaries have found the market conditions very challenging with increased competition in a reduced market. Unfortunately, the market conditions have deteriorated further since March 2019 and the Board now expects the Group's revised expectations for the current financial year to be significantly below last year. Working capital remains adequate.
In light of these difficult trading conditions, the Board has requested each trading subsidiary to implement further programme of cost reductions and efficiency savings, which will not have an effect on the current years trading result, with the objective of returning the Group to acceptable profit levels in the next financial year.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (MAR) and has been arranged for release by Jan G Holmstrom, Chairman.
Enquiries:
Leeds Group plc
Dawn Henderson - 07747 777055
Cairn Financial Advisers LLP
Tony Rawlinson / Liam Murray - 020 7213 0880