Cinpart PLC
07 February 2008
7 February 2008
Cinpart Plc ('Cinpart' or the 'Company')
Trading Update
Cinpart Plc, a manufacturer and worldwide distributor of gas appliance ignition
systems, is pleased to advise that it expects its results for the year ended 31
December 2007 to exceed the expectations in the broker's estimate. The Company
expects to report profit after tax of not less than £85,000 in comparison to the
broker's forecast for profit after tax of £24,000 for the year ended 31 December
2007.
The Company has experienced a modest increase in revenue for the year ended 31
December 2007 brought about by continued strong demand from the existing
customer base whilst also experiencing costs savings from the reorganisation of
the Company and cost rationalisation programme implemented by new management,
which included the closure of warehousing operations in the United Kingdom
('UK') and arranging for major customers to deal directly with the factory in
Thailand, saving UK import and distributions costs.
Also, the Company has successfully completed two capital projects being the
establishment of a circuit board production facility and the purchase of two 45
ton precision stamping machines, which has allowed for more efficient production
in Thailand. The resultant cost savings, together with the now completed
reorganisation of the Company, has significantly reduced costs within the
Company.
Contact
Kevin Baker - Cinpart Plc + 662 709 2647
Graeme Thom/Jonathan Evans - Zimmerman Adams International Limited 020 7060 1760
Stephen Goschalk - Newland Stockbrokers 020 7290 2414
This information is provided by RNS
The company news service from the London Stock Exchange
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