Reabold Resources Regulatory News (RBD)

3 Dec 2008 07:00



For release at 0700 on December 3rd 2008

Adventis Group plc (ATG/L)

("Adventis" or the "Company")

Trading Statement

In common with a number of other marketing services companies, Adventis has experienced a significant reduction in projects and contracts, across each of the Company's business areas such that the results for the year ending 31 December 2008 will be materially below market expectations. 

In part this reflects a slippage of certain key contracts into 2009. The Group's revenues remain underpinned by long term client relationships and our financial position remains strong with no debt and positive cash reserves. 

Our Health and Media divisions have continued to trade successfully. However, despite deep cuts in staffing at our Property division which were made as early as January 2008, the extent of the property slowdown has been more severe than anticipated. The addition of the Technology and Telecoms sectors by the acquisition of Second2 Limited in June 2008 has added to our bottom line, but the slowdown has also affected our Direct Response and Financial Services divisions. 

Commenting on the trading update Charles Phillpot CEO of Adventis said: 

"Whilst still making significant profits in several sectors of operation, the recent economic climate and decline in business confidence has taken its toll on the Group's businesses. The Board is taking steps to maximise returns in 2009, but we do have to recognise that the uncertain market conditions look set to continue". 

The Company will provide a more detailed update on current trading and prospects for the year ending 31 December 2009 at the time of its pre-close trading update, which will be announced in January 2009."

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