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15 Jul 2011 07:00
15 July 2011
Stagecoach Theatre Arts plc
("Stagecoach Theatre Arts" or "the Company")
Trading update
Stagecoach Theatre Arts (AIM: STA) announces a trading update for the year ended 31 May 2011 and also for the current financial year ending 31 May 2012.
As indicated at the time of the Company's interim results, trading remained generally level during the year ended 31 May 2011 and the results for the full year ended 31 May 2011 are in line with market and the Company's expectations. However, the Company has felt the effects of the economic downturn on school and student numbers: average student numbers attending each school in the UK decreased by 2% to 40.7 students over the year and the number of Stagecoach Theatre Arts main schools for 6 to 18 year olds fell from 613 to 603 over the same period.
Although it is too early to predict the outturn for the current financial year with any degree of certainty, the effect of the reduction in school and student numbers in the UK is expected to be reflected in the Company's trading results for this period notwithstanding increased Stagecoach Theatre Arts networks in North America and Germany. The Company continues to believe that worldwide school and student numbers will increase when the economic outlook improves.
The Company expects to announce its annual results on Wednesday, 10 August 2011.
Enquiries:
Stagecoach Theatre Arts Richard Dawson, Finance Director & Investor Relations
| Tel: 01932 254333 |
Smith & Williamson Corporate Finance Nominated Adviser & Broker David Jones / Siobhan Sergeant
| Tel: 020 7131 4000 |
Peckwater PR Public Relations Tarquin Edwards
| Tel: 07879 458364
|
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