MPAY.L Regulatory News (MPAY)

24 Jul 2007 11:26

Autoclenz Holdings PLC24 July 2007 Issued by Citigate Dewe Rogerson Ltd, BirminghamDate: Tuesday, 24 July 2007 IMMEDIATE RELEASE Autoclenz Holdings PLC ("the Group" "Company" or "the business") Trading Statement Autoclenz Holdings Plc issues the following pre-close statement ahead of thepublication of the Group's interim results for the six months ended 30 June 2007which are scheduled to be announced on Wednesday 19 September 2007. As we indicated in the Group's full year statement and at the time of the AGM inMay, trading conditions in the first half of 2007 have continued to be tough.Despite this we have achieved topline growth, albeit small, over the same periodlast year. The Directors are pleased to report sales growth in three of its strategicareas, with Pinnacle and Ready to Rent experiencing better growth than expectedand AC SMART performing in-line with management expectations. However,Dealership sales have seen no growth and, in some cases, a decline.Nevertheless, cash generation has remained strong. Within these growing businesses, we have made significant investment to supportthe sales growth and improve our new business launch timings, and therefore theattainment of profit targets, all of which we expect to contribute to bothrevenue and profit streams in the second half of 2007. Overall, we continue to remain focused on cost control and new business gains.The Directors remain confident that the Group can achieve managementexpectations for the year as a whole. In line with the Group's progressive dividend strategy and to illustrate theBoard's confidence in the future, barring any unforeseen circumstances theDirectors intend to pay an interim dividend of 1.8p per share. Enquiries:Grahame Rummery, Chief ExecutiveTrevor Clingo, Group Finance Director Fiona Tooley or Keith Gabriel Julian BluntAutoclenz Holdings Plc Citigate Dewe Rogerson KBC Peel HuntTel: 08707 510 410 Tel: 0121 455 8370 Tel: 020 7418 8900www.autoclenz.co.uk Mobile: 07785 703523 (FT) Notes to Editors:Founded in the 1960s, Autoclenz is widely recognised as the leading name in carvaleting and vehicle preparation in the UK. The Company provides the completepackage for the total valeting operation that includes labour, chemicals,equipment, materials, management and quality control systems that are requiredto achieve quality vehicle preparation. A commitment to a high quality, costeffective service has made Autoclenz a key partner to many of the best knownnames in the fleet, daily rental, auction and dealer network across the country. This information is provided by RNS The company news service from the London Stock Exchange