Interim Management Statement

Tex Holdings plc

Tex Holdings plc is today issuing its Interim Management Statement for the trading to date.

The Group performance has been in line with expectations and the order book maintaining the opening level representing approximately three months sales.

Within the Plastics Division, our order levels have softened and the lead time from order to despatch has shortened. However, the benefit of combining the two companies under one management team is assisting profit margins.

Again, BSP International Foundations and Eurotex International are benefiting from their worldwide markets with a satisfactory start to the year, albeit a number of Eurotex orders will not be despatched until the second half of the year. Tex Engineering is now producing a modest profit.

The Boards & Panels Division is being impacted by the lower levels of demand in the leisure vehicle market, but this has partly been compensated by projects for Quikaboard honeycomb panels.

Outlook

The Board expects the company to trade profitably this year, but with the current financial uncertainties in the world remains cautious as to the level of profits.