Synstar PLC
26 September 2002
26 September 2002
Synstar Plc
('Synstar' or 'the Group')
Trading Update
The Board of Synstar Plc is pleased to announce that, despite tough trading
conditions, it expects operating profit, profit before tax and cash generation
for the year ended 30th September 2002 to be in line with market expectations.
We continue to make progress implementing Phase 3 of our recovery programme,
'Expand and Rollout'. This progress is reflected in recent new business,
including the largest ever single new business win for the group, a £120m
five-year contract. In addition, in June we were awarded a £21m contract that
significantly expanded our service offering to Westland Helicopters, while in
July we extended our contract with Renault in Spain. We have also just
announced a new £4m contract with Avecia, a leading global speciality chemicals
company. This is the latest Synstar customer to purchase most of our services,
and we are looking to extend the contract to include Avecia's other key European
sites. Details of these contracts can be found on our investor relation's
website at www.synstar.com.
Wins of this type, coupled with continued excellent customer satisfaction
results reaffirm our confidence we can deliver enhanced profitability and
margins going forward.
For further information, please contact:
GCI Financial Tel: 020 7072 4200
Roger Leboff / Geoff Callow
This information is provided by RNS
The company news service from the London Stock Exchange
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