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24 Feb 2014 07:00
Armour Group plc ("Armour" or the "Group")
AGM Statement
Armour Group plc, the UK's leading consumer electronics group focused on in-car communication and entertainment and home entertainment markets is holding its Annual General Meeting at 12.00 today. George Dexter, Chief Executive, will make the following statement:-
"Armour's recovery has continued into the new financial year, with the Group profitable on sales that are up 4% year on year after five months of trading. The core UK retail markets for both the automotive and home divisions have been patchy in terms of demand, with sales of our key brands to our major retail customers performing well. However, as expected sales into the independent retail channel within the UK have been more challenging. In export markets, the Group's sales in both divisions have delivered good year on year growth, with existing customers expanding their business and new markets being opened up. This export sales growth reflects our strategy of broadening the Group's international reach.
The Group continues to progress its recovery and pursue its strategy of focusing on core brands, customers, investing for the future and developing international markets."
Further Details:
Armour Group plc George Dexter, Chief Executive John Harris, Finance Director | Tel: 01892 502700 |
finnCap, Nominated Adviser and Broker Geoff Nash Ben Thompson Stephen Norcross (Broking) | Tel: 0207 220 0500 |
Newgate Threadneedle Graham Herring Robyn McConnachie | Tel: 0207 653 9850 |
24 February 2014
About Armour Group plc
Armour Group plc is a leading United Kingdom consumer electronics group within the home entertainment and in-vehicle communications and entertainment markets, committed to designing, manufacturing and distributing leading-edge audio and visual products and solutions.
Armour Group has two principal UK based operating divisions, Armour Home and Armour Automotive, and Armour Asia based in Hong Kong. The Group employs 170 people across operating sites in the UK, Scandinavia and Hong Kong.
The Group possesses a strong brand portfolio, including more than 6,000 products and accessories, which is underpinned by innovative product development and investment in proprietary technology.
An unrivalled distribution capability ensures that products are supplied direct to more than 4,000 retail outlets within the UK and to customers in 63 countries worldwide. Armour Group is also a leading supplier of audio and visual technology to a host of non-retail customers including vehicle manufacturers, house builders and custom installers.
The Group's strength is based on the following fundamentals:
· A quality product portfolio supported by a structured programme of product innovation,
· Highly regarded and award-winning brands,
· Unrivalled distribution into the UK's retail electronics market and a focus on efficiency and first class customer service.
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