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14 Jan 2011 07:00
For immediate release 14 January 2011
Superglass Holdings PLC
("Superglass" or "Company")
Interim Management Statement
Superglass Holdings PLC, the UK's leading independent manufacturer of glass mineral fibre insulation products will hold its Annual General Meeting later today at which the following statement will be made. This comprises the Company's Interim Management Statement for the period 1 September 2010 to 14 January 2011.
The period since we reported year end results on 24 November contained Christmas, New Year and exceptional weather conditions, so it provides few indicators of underlying performance.
A snap-shot of the position today reveals solid trading with specialist distributors and builders' merchants, but as anticipated a slow start to the newly extended CERT programme. Refurbishment of our second furnace remains on schedule for completion by the end of January.
The expectation is that the Company's trading performance will be significantly second half weighted. CERT remains the key driver of trading for the Company in the short term and the factors underpinning growth in this channel are strengthening. However, the timing and rate of growth in demand arising from the CERT extension remains uncertain and will ultimately determine the outcome for the financial year.
ENDS
For further information, please contact:
Superglass Holdings PLC | |
Alex McLeod, Chief Executive Officer Tony Kirkbright, Chief Finance Officer
| 01786 451 170
|
Buchanan Communications | |
Diane Stewart, Tim Anderson, Carrie Clement
| 0207 466 5000 / 0131 226 6150 |
Brewin Dolphin Limited | |
Sandy Fraser | 0131 225 2566 |
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