MPAY.L Regulatory News (MPAY)

12 Jan 2007 07:00

Autoclenz Holdings PLC12 January 2007 Issued by Citigate Dewe Rogerson Limited, BirminghamDate: Friday, 12th January 2007 Embargoed: 7.00am Autoclenz Holdings Plc Pre-close Period Trading Update In a highly competitive environment, the Group has made good progress in itsfirst full year trading as an independently quoted business. Overall we haveseen some good performances from a number of brands within the business, whichhave enabled the Group to achieve a creditable performance in 2006. At the sametime the operational teams within the Group have focussed on building theirbrands while continuing to service our existing strong partnerships and seekingnew business opportunities. However, as a result of highly competitive trading conditions, coupled withconsiderable levels of price pressure the Directors anticipate that, althoughrevenues for 2006 will be ahead of the prior year and in line with ourexpectations, there will be a slight impact on gross margins, though this hasbeen offset by a rationalisation of the cost base towards the end of the secondhalf of the financial year. These savings will continue into 2007, though theDirectors expect the trading outlook for 2007 to remain similarly tough. As a result of the cost cutting activities undertaken, the Directors anticipatethat underlying operating profits for 2006 will be in line with expectations,though the Group was required to pay an unexpected rebate to a principalcustomer as a result of which the overall out turn for the year will fallmarginally short of expectation. The Group's stated dividend policy is unchanged. The Preliminary Results for the period ended 31 December 2006 will be announcedon 21st March 2007. Enquiries:Grahame Rummery, Chief ExecutiveTrevor Clingo, Group Finance Director Katie Dale, Senior Account ManagerAutoclenz Holdings Plc Citigate Dewe RogersonTelephone: 08707 510 410 Telephone: 0121 455 8370www.autoclenz.co.uk Mobile: 07770 788 624 (KD) Julian BluntKBC Peel Hunt LtdTelephone: 0207 418 8900 This information is provided by RNS The company news service from the London Stock Exchange