20 Jun 2013 14:14
Tex Holdings plc
Annual General Meeting - Thursday 20th June 2013
Chairman's Update on Trading at AGM
Trading has been at levels anticipated, with the half year profit expected to be consistent with the 2012 performance. The performance in the first half has been affected by a loss on the contract for the Air Traffic Control Room at Muscat Airport. This loss has been partly counterbalanced by a currency gain.
The Engineering Division, with the exception of Tex ATC Services, is trading solidly. The short-term outlook remains positive, although management still remains wary of the current economic climate. The Plastics Division is trading in line with the previous year, whilst the Boards & Panels Division is currently ahead of the same period last year.
The Group is approaching the balance of the year with a slightly lower order book on hand. The second half of our year has consistently been larger than the first and is often difficult to predict. We do however remain hopeful of a satisfactory outcome.
A.R.B. Burrows
Chairman
20th June 2013