Statement re. Results

29 Mar 2007 07:03

SMC Group Plc29 March 2007 SMC Group Plc ('SMC' or the 'Group') Statement re. Results On 25th January 2007, SMC Group issued a trading update for the year to 31stDecember 2006. In this update, the Group proposed changes to its treatment ofwork in progress. The impact of the change was initially expected to reduceprofit before tax and amortisation to approximately £5m. As indicated in the announcement of 12th February 2007 investigations into workin progress have continued under the direction of Sir Rodney Walker as ExecutiveChairman, and at his insistence, the Group has undertaken a furthercontract-by-contract review in conjunction with its advisers. This continuingreview is likely to lead to a further significant reduction in profit before taxand amortisation for the year to 31st December 2006 and will result in a shortdelay in the publication of SMC's results which are now expected to be on orbefore 11th April 2007. The Board continues to view the year to 31 December 2007 with confidence. For further information please contact: SMC Group Plc Tel: +44 (0)20 7495 5335Robert Boardman/Gordon Watson Numis Securities Tel: +44 (0)20 7260 1000Jag Mundi/Stuart Skinner/Emma Tod Bell Pottinger Corporate & Financial Tel: +44 (0)20 7861 3232David Rydell/Geoff Callow/Chris Hamilton - end- Notes to Editors SMC Group Plc is the holding company for a group of architects and designers. It has established expertise in a broad range of sectors, including residential, retail, industrial, workplace, transportation, leisure and education. The SMC Group's core strategy is to create an architectural group with the scaleand expertise to access the most profitable schemes across a range of sectors and geographical locations. This information is provided by RNS The company news service from the London Stock Exchange