SAF.L Regulatory News (SAF)

9 Jun 2006 08:37

Safeland PLC09 June 2006 Press Announcement Safeland Plc9 June 2006 Trading statement The conditions of those sections of the property market in which the Companyoperates remain challenging with relatively few opportunities for the Company tobuy on acceptable terms and this has resulted in a loss before tax for the yearto 31 March 2006, extracted from the unaudited draft financial statements of theCompany, of approximately £1.1 million compared to a profit before tax for theprevious year, extracted without material adjustment from the restated auditedfinancial statements of the Company, of £1.8 million. The net asset value pershare as at 31 March 2006, extracted from the unaudited draft financialstatements of the Company, has remained relatively stable at 110p compared to111p as at 30 September 2005, the date of the unaudited interim financialstatements. The Directors believe that the cash proceeds resulting from theproposed acceptance by the Company of the recommended cash offer for Bizspaceplc, announced yesterday, will enhance the Group's abilities to pursueinvestments and trading opportunities as and when they arise. Suchopportunities are frequently presented to the Company and the Directors arealways ready to investigate those which look attractive. -end- This information is provided by RNS The company news service from the London Stock Exchange