Character Group PLC
29 November 2004
Issued by Citigate Dewe Rogerson Ltd, Birmingham
Date: Monday, 29 November 2004
Embargoed: 7.00am
The Character Group plc ('Character Group' or 'the Company')
Trading statement
Character Group announces that World Wide Licenses Limited ('WWL'), its wholly
owned subsidiary based in Hong Kong, has reached an agreement with Uniden
America Corporation ('Uniden') to end the dispute between the two companies,
which commenced when Uniden terminated its distribution agreement with WWL.
Under the agreement, Uniden has agreed to pay to WWL the sum of US$4.5 million
by two equal instalments. The first such instalment has been duly paid and the
second instalment is due to be paid on or before 20 January 2005.
It should be noted that the Group has incurred substantial additional expenses
associated with the settlement agreement.
Without the benefit of the settlement detailed above, the directors would have
expected the profit before tax for the year ended 31 August 2004 to be in line
with market expectations. As a result of the settlement, the ordinary profit
before tax is likely to increase significantly above expectations. In addition,
there will also be some exceptional profit which will make the total profit
before tax for the year not less than £3 million.
The Group expects to announce the preliminary results for the year ended 31
August 2004 on Tuesday, December 7.
Enquiries:
Richard King, Chairman
Kiran Shah, Group Finance Director Fiona Tooley, Director
The Character Group plc Citigate Dewe Rogerson
Tel: 020 8949 5898 Tel: 0121 455 8370
Mobile: 07836 250150 (RK) Mobile: 07785 703523 (FMT)
Mobile: 07956 278522 (KS)
www.charactergroup.plc.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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