Further re: Product recall

8 Jun 2005 07:00

Sirdar PLC08 June 2005 8 June 2005 Sirdar PLC ("Sirdar" or the "Group") The Board of Sirdar announced on 9 February 2005 that it had instigated a recallof one of its fashion hand knitting yarns, named Fizz. At the time the Board believed that the likely financial impact of the recallwould be significantly below the maximum potential liability, which wasestimated at approximately £2.7m. Whilst the product recall is not fullycomplete, particularly in overseas markets, the Board can now provide an updateand estimates that the total cost of the recall should be in the region of£0.5m. Notwithstanding this issue, the Specialist Yarns Division has continued toperform strongly and, therefore, the Board currently believes that the Groupcontinues to trade in line with its expectations. Enquiries: Sirdar PLC 01924 371501 Duncan Verity, Group Chief ExecutiveKevin Henry, Group Finance Director This information is provided by RNS The company news service from the London Stock Exchange