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10 Dec 2009 07:00
10 December 2009
Low & Bonar PLC
Trading Update
Low & Bonar PLC (the "Group"), the international performance materials group, today publishes a trading update for the financial year to 30 November 2009, prior to entering its close period.
Trading since the Interim Management Statement of 19 October has remained at anticipated levels. Sales in all sectors have improved in the second half with marked increases in both the civil engineering and transport sectors.
Consequently we continue to expect that, in line with the Group's normal seasonal trends, second half profit will be materially improved compared to the first half and in line with our expectations.
Continued strong focus on cash generation will result in net debt being materially lower than the first half and also below our previous expectations.
We expect to announce the Group's preliminary results for the year ending 30 November 2009 on 16 February 2010.
For further information, please contact:
Low & Bonar PLC +44 (0)20 7535 3180
Steve Good, Chief Executive
Kevin Higginson, Finance Director
Hogarth Partnership Limited +44 (0)20 7357 9477
Andrew Jaques / Rachel Hirst / Ian Payne
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 their 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.
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