15 Feb 2016 08:15
Nature Group PLC
("Nature" or the "Company" or the "Group")
Trading Update
Nature Group PLC (AIM:NGR), the provider of port reception facilities and waste treatment solutions for the oil, marine and process industries, provides the following update on trading in the year ended 31 December 2015. Owing to challenging and industry wide trading conditions and adjustments relating to certain receivables from prior periods, the Company expects that sales will be broadly in line with market expectations but that profit before tax will be substantially below market expectations and the Group will post a trading loss for the year. In addition, the Company will incur non-trading write downs and restructuring costs in relation to its operations in Norway and Gibraltar.
The Group has, however, made progress in 2015. The Company announced the decision to discontinue its Gibraltar operations on 2 December 2015, and negotiations relating to the proposed sale of its wholly-owned subsidiary, Nature Port Reception Facilities Limited, are continuing. It has also restructured and supported its ongoing business such that, excluding its Gibraltar operations and other one-off costs, its ongoing operations were profitable for the year. This trend has continued into 2016 with an encouraging performance of its Maritime operations in Houston and Rotterdam and a pipeline of opportunities in the Company's Oil & Gas division.
For further information contact:
Nature Group PLC | |
Jan Vesseur, CEO | Tel: + 31 6462 878 96 |
Maarten Smits, CFO | Tel: + 31 6138 207 80 |
Cenkos Securities plc | |
Neil McDonald | Tel: +44 (0)131 220 9771 / +44 (0)207 397 1953 |
Beth McKiernan | Tel: +44 (0)131 220 9778 / +44 (0)207 397 1950 |
Hermes Financial PR | |
Chris Steele | Tel: +44 (0)7979 604 687 |
Trevor Phillips | Tel: +44 (0)7889 153 628 |