Pre Close Trading Update

5 October 2011 API Group plc Pre Close Trading Update API Group plc ("API" or the "Group") is today providing a pre-close period update on trading ahead of its interim results announcement due on 8 December 2011. The Group is pleased to confirm that trading for the six months ending 30 September 2011 has been in line with expectations, although a one-off exceptional charge will be recorded in interim results as a consequence of flood damage at one of the Group's facilities in the US. API's foil manufacturing site in Rahway, New Jersey suffered disruption during August as a consequence of Hurricane Irene.  While production was brought back on line within 48 hours and local management ensured minimum disruption to customer supplies, losses associated with damage to property and inventory, beyond what is covered by insurance policies, are estimated at up to £700k. On trading, all of the Group's businesses have maintained or improved their operating performance compared to the second half of last financial year. Laminates has continued to enjoy strong volumes, at levels similar to the last financial year, and is on track in respect of the major new supply agreement scheduled to come on stream in April 2012.  Steady progress has been made in the Foils businesses, with raw material costs stabilising after the steep increases experienced during 2010/11, and Holographics has benefited from increased demand for security applications. For further information, please contact: API Group plc Tel: +44 (0) 1625 650334 Andrew Turner, Group Chief Executive Chris Smith, Group Finance Director Cairn Financial Advisers LLP Tel: +44 (0) 20 7148 7900 Tony Rawlinson / Avi Robinson Numis Corporate Broking Tel: +44 (0) 20 7260 1000 James Serjeant This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: API Group PLC via Thomson Reuters ONE [HUG#1552179]
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