Share Price Movement

28 Oct 2005 15:41

Croma Group PLC28 October 2005 CROMA GROUP PLC ("Croma" or "the Group") RE SHARE PRICE MOVEMENT Pursuant to the Trading Statement announced on Thursday 27 October 2005, theBoard of Croma Group plc, the specialists in the design, development andproduction of overt and covert surveillance, security and defence relatedproducts, notes the sharp fall in the Group's share price. The directors would like to reiterate to all shareholders that Croma has enjoyedrobust trading for the first three months of this financial year. * Turnover in the first quarter of the current financial year, which is traditionally the quietest, is 191.1% higher like-for-like. * Operating losses have been cut by 96.8% from £220,000 to £7,000. * EBITDA loss has been cut by 93%. Croma's order book value, across the Group of £460,000, consists of writtenorders from customers for delivery in the current financial year. Total salesfor the first quarter stand in excess of £1 million with live quotations for theGroup's two subsidiaries, Croma Defence Systems Ltd and R&D Design ServicesLimited, as at 30 September 2005, at £643,000 and £1,394,000 respectively.Historically, the quotation conversion rates for Croma Defence Systems Ltdstands at 40%, with R&D Design Services Ltd at 60%. Housebroker, Seymour Pierce, will be issuing a broker's note, which will providethe market with an updated insight into the current position of the Group,within the next few trading days. --ENDS-- Enquiries: Croma Group plcJohn French, Chairman & Chief Executive Mobile: 07836 722 482 Bishopsgate Communications Ltd. Tel: 020 7430 1600Dominic Barretto Mobile: 07930 450 156Maxine Barnes Mobile: 07860 489 571 Notes to Editors: Listed on the AIM market of The London Stock Exchange, Croma Group plc, thespecialists in the design, development, production and marketing of overt andcovert surveillance and defence related products, comprises of three divisions; namely Croma Defence Systems Ltd, Shawley (a division of Croma Defence) and R&DDesign Services Ltd. This information is provided by RNS The company news service from the London Stock Exchange