25 Jan 2010 07:00
25 JANUARY 2010
MBL Group plc
("the Group")
TRADING UPDATE
The Board of MBL Group plc, the UK distributor of home entertainment products, today provides shareholders with an update on its trading performance for the three months to 31 December 2009.
Trading Performance
Total sales £84.8m, an increase of 30.1% (2008: £65.2m)
Distribution sales £79.8m, an increase of 28.5% (2008: £62.1m)
Wholesale sales £5.0m, an increase of 61.3% (2008: £3.1m)
Gross margins levels maintained and consistent with half year
Distribution, which services general retailers, experienced a comparative increase in sales due to the annualising of new business acquired in late 2008, which is consistent with the performance in the first half of the financial year.
In the Wholesale division, Windsong International, which was acquired early in 2009, experienced an acceptable sales performance and ESD Wholesale produced a sales performance marginally ahead of the comparative period.
Business Developments
During the three month period the Group announced a contract to supply Best Buy and the acquisition of Global Media Vault. Both of these are exciting prospects for the Group and considerable focus is being directed at these two new developments.
Outlook
The Board believes that trading during the three months to 31 December 2009, and a stable first half, provides confidence that the outcome for the full year to 31 March 2010 will meet market expectations.
--ENDS--
Enquiries:
MBL GROUP PLC Tel: 0161 767 1620
Peter Cowgill, Chairman
BISHOPSGATE COMMUNICATIONS LIMITED Tel: 020 7562 3350
Siobhra Murphy/Will Tindall
SEYMOUR PIERCE LIMITED Tel: 020 7107 8000
Mark Percy