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7 Nov 2011 14:54
Tex Holdings plc
Tex Holdings plc is today issuing its Interim Management Statement for the third quarter's trading.
Trading is in line with expectations and the order book remains sound.
Within the Plastics Division, our order levels have softened, but I am pleased to report we have signed a manufacturing agreement to supply a major white goods manufacturer. There are signs of some moulding work returning from overseas which could benefit the Group, however the current market situation remains uncertain.
The Engineering Division continues to benefit from exports, with BSP International Foundations, Eurotex International and Tex Air Traffic Control trading at or above budgeted levels. Tex Engineering is well placed to benefit from the release of future infrastructure projects in the UK.
The Boards & Panels Division is finding that demand in the leisure vehicle market is reduced, but there is increased activity within the Quikaboard market.
Outlook
The Board is confident we will have a profitable year, however future trading is difficult to judge in light of the world economic uncertainties.
A.R.B. Burrows
Chairman
7th November 2011
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