17 Aug 2009 07:00
Creightons plc ("the Company")
Interim Management Statement
Creightons Plc today issues its interim management statement for the period 1 April 2009 to 14 August 2009 ("the Relevant Period").
The Company's financial position has deteriorated since the last published balance sheet (31 March 2009), as a result of the losses incurred during the first quarter 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 three months of this financial year (to 30 June) have been lower than for the same period in previous years as a result of a significant further weakening of consumer off-take and demand by the Company's main customers is down compared with the same period last 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. This has resulted in significant savings so far this year, such that the losses incurred in the first three months of this year are less than those incurred during the corresponding period last year, despite lower sales levels.
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 23 September 2009. .
The Company's interim results for the period 1 April to 31 September 2009 will be issued on or before 31 December 2009.
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)