Pacific Global Regulatory News (PCH)

20 Nov 2007 07:01

Pochin's PLC20 November 2007 Pochin's PLC Interim Management Statement As was foreshadowed at the end of September in the announcement of the resultsfor the year ended 31 May 2007, Pochin's has experienced a slow start to theyear. The Contracting Division is experiencing some delays in the start of newprojects although the forward order position remains strong. The wet summerweather was unhelpful. The Construction Services Division has benefited from a steady level of demand,and previously reported measures to cut costs are bearing fruit. Weaker demandfor new houses is being reported by the Homes Division. The Property Divisionis also experiencing uncertain trading conditions, with the generalre-assessment of value in UK commercial property making it more difficult tobring transactions to completion. The change in sentiment for commercial property makes the Group cautious in itsoutlook. In the light of the tougher conditions which now prevail, it remainspossible, though inevitably more challenging, to meet market expectations duringthe year. Richard FildesChairmanPochin's PLC 20 November 2007 Enquiries: Pochin's PLCDavid Shaw, Chief Executive 01606 833 333John Edwards, Finance Director Charles Stanley SecuritiesPhilip Davies/Rick Thompson 020 7149 6457 This information is provided by RNS The company news service from the London Stock Exchange