Interim Management Statement

RNS Number : 2688I

Guinness Peat Group PLC

17 November 2008

 



GUINNESS PEAT GROUP PLC

Interim Management Statement

Guinness Peat Group plc ("GPG") today publishes its interim management statement ("IMS") covering the period from 1 July 2008 to 17 November 2008.  This IMS has been prepared solely to provide additional information to shareholders to meet the requirements of the UK Listing Authority's Disclosure and Transparency Rules.

Financial Position

Despite the continuing fall in worldwide stock markets, GPG's financial position remains strong.  Net asset backing per share at 30 September 2008 was 66.19p (30 June 2008: 65.45p).  GPG Parent Group cash at 30 September 2008 was £292m.

Coats

The decline in the European Crafts market continues to be a factor in the performance of Coats.  As reported at the half year, management is taking the necessary actions to address this.  Performance in the second half will also be impacted by weakness in Industrial markets.

Full Year Results

GPG is scheduled to release its 2008 full year results at the end of February 2009.

The financial information on which this statement is based has not been reviewed or reported on by GPG's auditors.

J R Russell

Company Secretary

Guinness Peat Group plc

Tel: [phone]

17 November 2008

 

END

 

 

IMSKDLBFVFBXFBE