Interim Management Statement

18 Apr 2008 07:00

Haynes Publishing Group PLC18 April 2008 HAYNES PUBLISHING GROUP P.L.C. ("the Haynes Group") Interim Management Statement Quarter 3 - 13 weeks to 29 February 2008 Third quarter business highlights On 28 February 2008, the Haynes Group acquired 100% of the issued share capitalof Vivid Holdings BV (Vivid), the Dutch based provider of digital technicalinformation to the motor trade (as previously announced). The acquisition ofVivid is a key strategic move by the Haynes Group to move into the supply ofautomotive technical information to the professional mechanic. Apart from theacquisition there have been no other significant changes in the financialposition of the Group since the half year. Third quarter trading In the US, trading conditions continue to be difficult. Like for like sales inlocal currency ended the 13 week period 6% down on the prior year, but 13% lowerwhen translated to Sterling. In the UK and Europe, sales of the core UK manuals ended the 13 week period down7%. However, sales year-to-date remain 3% ahead of last year. As has been well reported economic conditions remain very uncertain. In theabsence of further economic deterioration, the Group believes there is arealistic possibility of improvement in the second half of the year. Thecontinuing weakness of the US Dollar is, though, a source of concern. The Haynes Group will report its preliminary results for the financial yearending 31 May 2008 and 4th quarter trading on 28 August 2008. Cautionary Statement : This report contains certain forward-looking statements with regards thefinancial condition and results of the operations of Haynes Publishing GroupP.L.C. These statements and forecasts involve risk factors which are associatedwith, but are not exclusive to, the economic and business circumstancesoccurring from time to time in the countries and sectors in which the Groupoperates. These forward-looking statements are made only as at the date of thisannouncement. Nothing in this announcement should be construed as a profitforecast. Except as required by law, Haynes Publishing Group P.L.C. has noobligation to update the forward-looking statements or to correct anyinaccuracies therein. Enquiries : Haynes Publishing Group P.L.C.John Haynes OBE, Chairman 01963 442009Eric Oakley, Group Chief Executive 01963 442009 Blue Oar Securities PlcJerry Keen 0207 448 4492Mike Coe 0117 933 0020 This information is provided by RNS The company news service from the London Stock Exchange