Interim Management Statement

RNS Number : 7942L

Guinness Peat Group PLC

12 May 2010

 



GUINNESS PEAT GROUP PLC

Interim Management Statement

Guinness Peat Group plc ("GPG") today publishes its interim management statement ("IMS") covering the period from 1 January 2010 to 12 May 2010.  This IMS has been prepared solely to provide additional information to shareholders to meet the requirements of the UK Listing Authority's Disclosure and Transparency Rules.

The financial information on which this statement is based has not been reviewed or reported on by GPG's auditors.

Financial Position

As stated by the Chairman at the Annual General Meeting on 7 May 2010 GPG's financial position continues to be strong.  Net asset backing per share is currently 55p per share (54p per share at 31 December 2009). 

Coats

Coats' performance in 2010 has benefited from the improvement in the global economy and sales overall are ahead of the previous year.  In the Industrial Division's markets, increased activity has improved performance in all regions compared to 2009.

The restructuring process in Europe has resulted in better trading results for the Crafts division.

Coats continues to manage its working capital and debt position effectively.

Chris Healy

Company Secretary

Guinness Peat Group plc

Tel: [phone]

12 May 2010

 

END

 

 

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