Novae Group Regulatory News (NVA)

23 Aug 2005 15:00

SVB Holdings PLC23 August 2005 23 August 2005 For immediate release SVB HOLDINGS PLC Trading update SVB, the specialist insurance group, is today providing a trading update inrelation to the period ended 30 June 2005. As a result of favourable trading conditions in its continuing business, profitbefore tax for the period is expected to be in the region of £20 million. Thisis before pre tax currency gains under International Financial ReportingStandards ("IFRS") of around £5 million. This does not alter the Board's current expectations for the year ending 31December 2005. A substantial amount of the book remains on risk, in relation toboth property and liability classes, and certain earnings distortions in thefirst half are expected to unwind in the second half. In addition, currencyfluctuations under IFRS may increase the volatility of the headline result. SVB will announce its interim results for the period ended 30 June 2005 onFriday, 16 September 2005. - ENDS - Enquiries: SVB Holdings PLCMatthew Fosh 020 7903 7391 M CommunicationsNick Miles 020 7153 1535 This information is provided by RNS The company news service from the London Stock Exchange