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Last checked at 
11 Mar 2011 15:30
11 March 2011
Savile Group plc ("Savile" or the "Company")
Trading Update
The Group's restructuring continues, refocusing product offerings, business development and support teams. This will provide a strong and stable platform for a return to growth.
The Board, in reviewing current trading and its impact on the first quarter, has seen reduced margins and slower than expected take up of its volume services, offered through Fairplace. Although activity remains promising, the conversion to revenue remains slow and uncertain as many projects, especially in the Public Sector, continue to be delayed. As a result it is unlikely this division will return to profitability before the year end.
7 Days and Iddas together offering specialist corporate services, have made a positive contribution in the year to date and we expect this to continue.
Given the weak trading in volume services, the Board now anticipates that the Group will report a trading loss for the year, unless market conditions improve.
The balance sheet remains strong and the Company currently holds cash balances of over £1.2m.
For further information, please contact:
Savile Group plc 020 7204 6990
Jonathan Cohen, Chairman
Mark Sidlin, CFO
FinnCap 020 7600 1658
Geoff Nash
Ben Thompson
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