8 May 2013 15:27
Tex Holdings plc
Tex Holdings plc is today issuing its Interim Management Statement for the trading to 31st March 2013.
The trading year has opened in line with expectations and similar to the first quarter last year, with the order book continuing at a satisfactory level.
The Plastics Division is beginning to suffer from fluctuations in orders leading to shorter lead times which automatically incur higher costs. Our management continues to review costs in order to maintain profitability.
BSP International Foundations and Eurotex International benefit from their world-wide markets and have started the year satisfactorily. Whilst Tex Engineering suffered from a major downturn in order intake in the second half of 2012, we are quietly confident the order intake has improved. The ATC Division will be delivering the flying control room steelwork for the aircraft carrier project in May. The Company also continues with their long-term contracts for air traffic control rooms.
The Boards & Panels Division are currently winning a larger portion of the reduced leisure vehicle market which, combined with other projects for Quikaboard, should hopefully take the Company into profit this year.
Outlook
Whilst recognizing the current trading uncertainties world-wide, the Board expects the Group to continue to trade in line with last year.
8th May 2013