19 May 2009 11:16
FOR IMMEDIATE RELEASE 19 MAY 2009
NORTHBRIDGE INDUSTRIAL SERVICES PLC
("Northbridge" or "the Company")
AGM Statement
Northbridge, the industrial services and rental company will today hold its AGM at 12:00 noon at the offices of Buchanan Communications, 45 Moorfields, London EC2Y 9AE. Peter Harris, the Chairman of Northbridge will make the following statement:
"As we indicated at the time of our preliminary results in March, trading for the year has started well. Although sales volumes of manufactured units are down from the record start we experienced in 2008, our rental revenues remain at a high level in all our operations. Rental is the most profitable and cash generative of our activities and we are now beginning to see the benefit of the investments into this area over the last few years. Recent acquisitions and contract wins have strengthened our position in the market, and we remain ready to capitalise on any opportunities that arise.
Our customers in the UK and overseas are largely involved in power generation and the oil & gas sector and demand for our products and services from these industries has been resilient. Our current volume of rental quotes and enquiries for future sales remains encouraging."
For further information
| Northbridge Industrial Services plc | |
| Eric Hook, Chief Executive Officer | 0770 283 1110 |
| Ash Mehta, Finance Director | 07930 547 441 |
| Charles Stanley Securities (Nominated Adviser) | 020 7149 6000 |
| Mark Taylor / Freddy Crossley | |
| Buchanan Communications | 020 7466 5000 |
| Charles Ryland / Isabel Podda/James Strong |
About Northbridge:
Northbridge Industrial Services was incorporated for the purpose of acquiring companies that hire and sell specialist industrial equipment, supplying a non-cyclical customer base including utility companies, the public sector and the oil and gas industries. In particular it will seek to acquire specialist businesses that have the potential for expansion into complete outsourcing providers.