OMG PLC
10 April 2002
OMG Plc ('OMG') - Trading update
OMG announces that it will release its interim results for the six months ended
31 March 2002 on 5 June 2002. OMG is taking this opportunity of updating the
market on its current trading.
Our Chairman stated at the time of our preliminary announcement of results on 4
December 2002 that we were seeing buoyant markets for certain of our products
while others, in particular the film, TV commercials and aerospace markets, were
responding to economic conditions with caution. Since then, while the core
activities of the Company have continued their upward growth, there has been a
continued slackening of demand in the entertainment sector, particularly in the
US, in some part due to the events of September 11th and the uncertainty that
those events have caused. The US entertainment sector remains a medium- and
long-term growth market but it is a little early to predict with certainty when
it will return to normality.
As a consequence, it is difficult at present to forecast revenues for the
current full financial year. The Directors believe it prudent therefore to
comment that, at this stage, they consider that current market expectations for
the year to 30 September 2002 are unlikely to be achieved.
OMG will take the opportunity to provide a further trading update at the time of
announcement of its interim results.
Enquiries:
Julian Morris 01865 261800
Chief Executive
Azhic Basirov
Smith & Williamson 020 7637 5377
Russell Cook
Teather & Greenwood Limited 020 7426 9000
End
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