Power Probe Regulatory News (PWR)

26 Nov 2007 07:01

Powerleague Group plc26 November 2007 For immediate release: 26 November 2007 POWERLEAGUE GROUP PLC ("Powerleague" or "the Company") AGM STATEMENT At the Company's Annual General Meeting being held today, Claude Littner,Chairman of Powerleague, the market-leading operator of premium quality,purpose-built 5-a-side football centres in the UK, will make the followingcomments with regard to current trading: "We are satisfied with the performance of the Group in the first 21 weeks of ourfinancial year. Sales and profits have continued to grow, our cash positionremains strong and since the year end, we have successfully opened three newcentres in Cardiff, Milton Keynes and Old Street in the heart of the City ofLondon. These centres are all expected to make positive contributions in thesecond half of the year. We continue to upgrade our estate and have recently completed the refurbishmentof seven centres with the latest 5th generation pitch surfaces. Over 80% of ourestate now has the latest 5th generation pitches. We are confident that we willsee positive returns from this continued investment in our centres. We are also pleased to announce that we are on track to open a further twocentres in the second half of the financial year, in line with marketexpectations. Powerleague Shrewsbury is under construction and is scheduled toopen in January 2008, with a further new centre forecast to open towards the endof the financial year. The pipeline for potential new sites remains strong, andfuture prospects for growth remain positive." - ends - For further information please visit www.powerleague.co.uk or contact: Claude Littner / Sean Tracey John West / Lulu BridgesPowerleague Group plc Tavistock CommunicationsTel: 0141 887 7758 Tel: 020 7920 3150 This information is provided by RNS The company news service from the London Stock Exchange