AGM Statement

RNS Number : 5668H

Slingsby(H.C.)Plc

21 June 2013

 



H C SLINGSBY PLC ("Slingsby" or the "Company" or the "Group")

AGM Statement

At the Annual General Meeting of the Company, to be held at 10.00 a.m. this morning, the Chairman will provide the following trading update:

"In my chairman's statement included in the unaudited preliminary results for the year ended 31 December 2012, released on 19 April 2013, I stated that trading conditions experienced in the second half of 2012 had continued into the 2013 financial year and that there was no visibility as to the timing of any upturn. Since writing that statement, trading has not improved and the Board's expectations are for a small pre-tax loss for the first half of 2013.

The lower levels of trading have been exacerbated by a notable decrease in public sector spend in the period up to 31 March 2013.

In the absence of an upturn in our markets and the economy as a whole similar trading for the six months to 31 December 2013 will result in a more substantial loss for the second half.

Our cash position remains strong. We continue to invest in our customer loyalty schemes and the new web infrastructure, which is expected to be completed in late 2013. The Board believes that these initiatives will place the Company in a stronger position to compete in the more dynamic e-commerce environment and enable it to leverage our substantial key account base." 

John Waterhouse

Non-Executive Chairman

21 June 2013

For further information, please contact:

H C Slingsby PLC	Tel:  [phone]
Dominic Slingsby, Managing Director Ray Hudson, Financial Director
Sanlam Securities UK Limited	Tel:  [phone]
David Worlidge

 

END

 

 

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