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10 May 2011 10:54
Tex Holdings plc
Tex Holdings plc is today issuing its Interim Management Statement for the trading to date.
The Group traded in line with expectations and the order book remains in excess of £10,000,000 which is approximately a third of our annual order requirement.
Within the Plastics Division our order levels remain stable but, bearing in mind the current situation in the market, we remain vigilant. We are however seeing the benefits of combining the two companies under one management team.
BSP International Foundations and Eurotex International are benefiting from their worldwide markets with a satisfactory start to the year. Tex Air Traffic Control continues to trade satisfactorily with the potential for one or two substantial orders in the near future. Tex Engineering continues to rationalize its operations and we are confident it will substantially reduce the losses it suffered last year.
The Boards & Panels Division is finding that the demand in the leisure vehicle market is at present lower than expected, however we are confident management will continue to improve the performance of this division.
Outlook
The Board will make every endeavor to produce results ahead of last year, but the uncertainty of the world economies continues to dictate caution. The build-up in our orders to date do however look more encouraging than at this time last year.
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