Trading Statement

RNS Number : 1362E

Mavinwood PLC

24 September 2008

 



Mavinwood Plc Trading Update

Loss of significant contract

Following the loss of a significant contract in their Emergency Repair division, Mavinwood plc announce that profits for the 12 months ending 31 December 2008 will now not meet market expectations.

Commenting on the announcement Kevin Mahoney, Chief Executive of Mavinwood said:

'At the beginning of 2008 we were confident that this contract would be retained and expanded. We therefore incurred increased investment in the Emergency Repair division. When we updated the market on the 5th June we continued to be confident that the contract would be retained. The decision not to renew was therefore disappointing.'

Mavinwood's Document Handling Division continues to perform well, exceeding market expectations.

Mavinwood will announce its Interim Results for the 6 months to 30 June 2008 on Tuesday 30 September 2008 at which time it will provide more detail of its trading outlook.

Enquiries

Mavinwood plc

Kevin Mahoney                                                              020 7661 9650

Mike Vincent                                                                  020 7661 9651

Threadneedle Communications

John Coles                                                                     020 7653 9848

Collins Stewart Europe Limited

Adrian Hadden                                                              020 7523 8353

 

END

 

 

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