KleenAir Systems International plc
24 October 2008
Trading update
KleenAir Systems International plc today announces a trading update for the year
ended 30 September 2008.
Sales for the second half year more than doubled in comparison with the first
half, with revenue for the year in excess of £800,000. Gross margins have
improved and additional contribution has resulted in a reduction in the
estimated operating loss for the second half, before any potential year-end
provisioning and audit adjustments. Cash management has been assisted by new
factoring arrangements with Bibby Financial Services. Order intake on the
Company's diesel particulate filter product (targeted at owners of vehicles
operating in the London Low Emission Zone) was, as expected, sharply down in
September and the Company expects a slow fiscal first quarter, with first sales
of a new Diesel Saving Module and new filter products, to be launched at the
upcoming Bus Show at the NEC in Birmingham next month, unlikely in significant
volumes before 2009.
For further information please contact:
Lionel Simons 07799 690 785
Chairman & Chief Executive
Nick Harriss/Peter Trevelyan-Clark 020 7489 4500
Blomfield Corporate Finance Ltd
Steve Austin/Claire Louise Noyce 020 3159 5085
Hybridan LLP
Henry L Gewanter 020 7489 2028
Positive Profile Limited
KleenAir is a global provider of customised, cost-effective emissions reduction
solutions for diesel vehicles. By significantly reducing the harmful level of
vehicle pollutants, KleenAir's innovative environmental management technology is
helping to create a greener, safer and healthier world.
ENDS
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