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Interim Management Statement

18 Apr 2011 10:32

RNS Number : 0875F
Pochin's PLC
18 April 2011
 



Pochin's PLC

("Pochin's" or the "Group")

 

Interim Management Statement

 

 

This Interim Management Statement covers the period from 1 February 2011 to date.

 

As foreshadowed in the half year report, activity in the Construction division in the month of February and March has been slower than originally expected with the start dates of a number of new contracts being delayed. It is good to be able to report that, during the current month, a more normal level of operation has resumed, although not at the level of which will enable the missing turnover to be recovered during the remainder of the company's financial year ending 31 May 2011.

 

The Concrete Pumping division continues to suffer from weak demand and high fuel prices, although tight cost controls are containing the losses within budget.

 

The Property division has achieved some planned disposals during the period and occupancy levels in the core portfolio have been maintained. There is no change in the position of the Group's joint ventures from that which was outlined in the half year report.

 

Overall, the Group's position remains stable in subdued market conditions and some encouragement may be taken from the recently increased level of activity in the Construction division.

 

 

 

Richard Fildes

Chairman

Pochin's Plc

 

18 April 2011

 

Enquiries:

 

Pochin's PLC 01606 833 333

John Moss, Chief Executive

John Edwards, Finance Director

 

 

Charles Stanley Securities 020 7149 6000

Russell Cook

Carl Holmes

 

 

Blythe Weigh Communications 020 7138 3204

Paul Weigh 07989 129 658

Matthew Neal 07917 800 011

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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