COVID-19 Trading Update

RNS Number : 2636J

Heath(Samuel) & Sons PLC

08 April 2020

 

Samuel Heath & Sons plc

 ("Samuel Heath" or "the Company")

COVID-19 Trading Update

We have, as a result of the impact of COVID-19 on the markets we operate in, seen the size of our order book materially decrease as a lot of our customers have closed their operations, although some are still operating at reduced capacity. In addition, we are finding it increasingly difficult to source the raw materials and components required to manufacture our products.

Up until the impact of COVID 19 trading was in line with management expectations.  While Coronavirus is clearly going to make it extremely difficult for the Company to trade profitably in the current financial year, at this stage the exact impact is not clear.  A further announcement will be made as necessary.

The welfare of our colleagues and customers remains paramount and, to this end, we are taking all appropriate measures to keep people safe and ensure compliance with Public Health England guidelines whilst ensuring continuity of our operations to the extent possible. 

In line with the latest government guidance our factory is currently still operating, although at reduced capacity, and our showroom at Chelsea Harbour Design Centre has temporarily closed.

The Company's cash reserves remain strong for the time being.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

Samuel Heath & Sons Plc

Simon Latham, Company Secretary

Tel:[phone]

Cairn Financial Advisers LLP

James Caithie / Jo Turner

Tel: [phone]

 

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