19 Dec 2013 07:00
LOW & BONAR PLC
Trading Update
Low & Bonar ("the Group"), the international performance materials group with leading positions in niche industrial markets, today provides a brief update on trading for the year ended 30 November 2013. The Group expects to report its full year results on 4 February 2014.
Sales for the second half of the year were 5% ahead of last year on a like-for-like constant currency basis, and 6% ahead including an in line contribution of £3m from Texiplast, our recent acquisition in Slovakia. The much improved second half performance has resulted in full year constant currency sales growth of circa 3%. Full year pre-tax profits are expected to be within the range of market expectations.
19 December 2013
For further information, please contact:
Low & Bonar PLC | 020 7535 3180 |
Steve Good, Group Chief Executive | |
Mike Holt, Group Finance Director | |
College Hill | 020 7457 2020 |
Matthew Smallwood | |
Helen Tarbet |
Forward looking statements
This announcement includes statements that are, or may be deemed to be, "forward looking statements". These forward looking statements can be identified by the use of forward looking terminology, including, but not limited to, the terms "believes", "estimates", "anticipates", "expects", "may", "will", "would", "could" or "should" or, in each case, their negative or other variations or comparable terminology. These forward looking statements include matters that are not historical facts.
By their nature, forward looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward looking statements are not guarantees of future performance. The Group's actual results of operations, financial condition and liquidity may differ materially from the impression created by the forward looking statements contained in this announcement. In addition, even if the results of operations, financial condition, and liquidity are consistent with the forward looking statements contained in this announcement, those results or developments may not be indicative of results or developments in subsequent periods. Important factors that could cause these differences include, but are not limited to: changes in the competitive framework in which the Group operates and its ability to retain market share; the Group's ability to generate growth or profitable growth; the Group's ability to generate sufficient cash to service its debt; the Group's ability to control its capital expenditure and other costs; significant changes in exchange rates, interest rates and tax rates; significant technological and market changes; future business combinations or dispositions; and general local and global economic, political, business and market conditions. In light of these risks, uncertainties and assumptions, the events described in the forward looking statements in this announcement may not occur.
Other than in accordance with its legal or regulatory obligations, the Group does not undertake any obligation to update or revise publicly any forward looking statement, whether as a result of new information, future events or otherwise.