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10 Sep 2009 07:00
Armour Group plc ("Armour" or the "Group")
Trading Update
Trading Statement
Armour is pleased to announce that it expects profits before interest and tax and underlying basic earnings per share, for the year ended 31 August 2009, to be ahead of current market expectations. Cash generation has been strong and net debt at 31 August 2009 was significantly lower than at the half year and as at 31 August 2008.
Despite the challenging market conditions, both operating divisions, Armour Home and Armour Automotive, have been profitable, cash generative and have successfully secured important new business during the year. In addition, the Group's product development programmes have continued to deliver a number of new products to market, with one of the most exciting being QTV2
(www.qacoustics.co.uk/q-tv.htm), a discreet speaker system, delivering 'HD cinema sound' for flat screen televisions. The Group's robust business model that has kept it profitable and cash generative throughout this difficult economic environment, gives the Board confidence with regard to the future prospects for the Group.
The preliminary announcement of the results for the year ended 31 August 2009 will be made on 23 November 2009.
10 September 2009
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