19 Aug 2008 14:13
Creightons plc ("the Company")
Interim Management Statement
Creightons Plc today issues its interim management statement for the period 1 April 2008 to 19 August 2008.
The Company's financial position, with levels of borrowing increasing, has deteriorated since the last published balance sheet (31 March 2008), as a result of the losses incurred during the first half of this financial year, although this has been expected to some extent given the time of year and cyclic nature of the Company's business.
Sales in the first four months of this financial year (to 31 July) have been lower than for the same period in the previous year as a result of a significant weakening of consumer off-take, and demand by the Company's main customers is down on the same period in the previous year.
The Company is also experiencing serious price pressures from suppliers, although the board is striving to mitigate this wherever possible by seeking to pass on higher prices and reducing non-essential overhead costs.
Neither the financial information on which this statement is based nor this statement itself have been reviewed or reported upon by the Company's auditors.
The Company's AGM is being held at its offices in Peterborough on 26th August 2008.
The Company's interim results for the period 1 April to 31 September 2008 will be issued on or before 31 December 2008.
Investor enquiries should be addressed to the Company Secretary Nick O'Shea, Creightons plc, 1210 Lincoln Road, Peterborough, PE4 6ND, phone +44 (0) 1733 281000.
Creightons (CRL)