7 Jul 2008 07:00
7 July 2008
Murgitroyd Group PLC
("Murgitroyd" or "the Group")
Trading update
Murgitroyd, the European Patent and Trade Mark Attorney practice, is pleased to announce a trading update following the end of its financial year on 31 May 2008.
Management can confirm that trading for the second half of the financial year has been such that results for the full year are anticipated to be within the range of market expectations.
The financial year just ended has been one of consolidation for Murgitroyd and the Group remains well placed to continue its development. The integration of Kennedys Patent Agency Limited, acquired on 22 February 2008, is complete and all permanent staff who joined Murgitroyd as part of the acquisition remain with the Group. The new financial year will see Murgitroyd benefit from a full-year effect of the acquisition.
The new financial year has begun encouragingly and additional Attorneys continue to be recruited into the practice growing the Group's fee-earning capacity.
Murgitroyd is also pleased to announce its appointment as Patent and Trade Mark Attorneys to Ancon Building Products, the Sheffield-based designer and manufacturer of high integrity steel products for the construction industry. This appointment comes after a competitive tender process.
The Annual Report of the European Patent Office, published on 19 June 2008, showed that the number of applications for European Patents grew by 3.6% in 2007, reflecting continued growth in that core market, whilst comparative statistics from the European Community Trade Mark ("CTM") office showed CTM applications were 13.9% higher in 2007 than in the previous year.
Management remain confident of about the future prospects of the Group.
The company expects to release its results for the year ended 31 May 2008 on or around 1 September 2008.
For further information please contact:
Keith Young, Chief Executive and Finance Director T: 0141 307 8400
David Ovens, Noble & Company Limited T: 0131 225 9677