Share Price Movement

15 Jul 2005 07:00

Inditherm PLC15 July 2005 Inditherm plc ("the Company") Re Share Price Movement The Company is not aware of any fundamental reason for the decline in theCompany's share price over recent days. The Company's stated strategy of focusing on the industrial, water utilities,medical sport pitch heating, and construction markets continues to showsignificant potential. Current trading remains challenging but as stated at therelease of the company's preliminary results on 24 March 2005, the directorsbelieve the Company's new approach will begin to show benefits from the secondhalf of this year. Since Richard Harpum became Chief Executive the company has directed its effortstowards seeking out larger orders to accelerate the growth. Of necessity thisstrategy means conversion of enquiries into sales takes longer to come tofruition. Whilst there has been growth in order intake in the first 6 months inthe core Industrial businesses (excluding pitch heating) the company anticipatesthe growth rate to be slow in the short term, until more enquiries areconverted. At present the gross value of enquiries being pursued is £3.2 million. As at 13th July 2005, the Company's cash balance is approximately £3.0 million. There will be an update on the progress with the Interim results which are to beannounced on 28th September 2005. For further information, please contact: Inditherm plc Tel: 01709 761 000Richard Harpum, Chief Executive (Mobile 07710 009500)Ian Smith, Finance Director (Mobile 07985 580183) This information is provided by RNS The company news service from the London Stock Exchange