AGM Statement

RNS Number : 2908M

API Group PLC

15 July 2014

 



Press Release

15 July 2014

API Group plc

("API" or the "Group")

AGM Statement

API Group plc (AIM:API), the leading manufacturer of specialist foils and packaging materials, is holding its Annual General Meeting today at 2.00 p.m. at the offices of Eversheds LLP, One Wood Street, London EC2V 7WS.

At the Annual General Meeting, Richard Wright, Chairman of API Group plc, will provide the following trading update:

"The Board's expectations for the current financial year remain consistent with what was indicated when full year results were announced on June 4^th 2014.

Laminates and Foils Europe are trading well and Holographics is on track to at least hold the breakeven performance established in the final quarter of last year.   Foils Americas has continued to experience reduced demand from the metallic pigment sector, exacerbated by destocking of the supply chain.  Volumes are expected to start to recover in the second half and action has already been taken to re-align operating costs.

Overall, the Board continues to expect progression in results compared to last financial year.

- Ends -

For further information:

API Group plc
Andrew Turner, Group Chief Executive	Tel: [phone]
Chris Smith, Group Finance Director	www.apigroup.com
Cairn Financial Advisers LLP (Nominated Adviser)
Tony Rawlinson / Avi Robinson	Tel: [phone]
	www.cairnfin.com
Numis Securities (Broker)
James Serjeant	Tel: [phone]
	www.numis.com

Media enquiries:

Abchurch
Henry Harrison-Topham / Quincy Allan	Tel: [phone]
[e-mail]	www.abchurch-group.com

 

END

 

 

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