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Hi-Tec Sports PLC (HTS)

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Thursday 21 October, 1999

Hi-Tec Sports PLC

AGM Statement - Change of Year End to Dec 31st

HI-TEC SPORTS PLC
21 October 1999

 
 
                    Hi-Tec Sports Plc
                            
       Chairman's Annual General Meeting statement
 
Speaking  at  today's Annual General Meeting,  Frank  van
Wezel, Hi-Tec's Chairman made the following statement:
 
'In July's preliminary announcement, I made the following
statement on the outlook for the group:
 
'Whilst   some  markets  continue  to  face   challenging
economic   environments,  we  start  the  year   with   a
strengthened  management team, reduced  stocks,  a  solid
order book and better products.  We continue to focus our
efforts  on  developing  the  profitable  areas  of   the
business  and  those  with  the  most  potential,  whilst
improving   further   our   product   design,   technical
innovation and operational efficiency. Taking all of this
together, we anticipate an improved trading and financial
performance.
 
'The  board believe that since July, the group  has  made
satisfactory  progress,  although  some  markets   remain
challenging.   With  the group's financial  year-end  now
changed  to  31 December to better reflect the industry's
seasonality, a fuller report on progress will be provided
with  the  next  results which we expect to  announce  in
February'.
 
 
For further information, please contact:
 
Hi-Tec Sports Plc
Paul Harrison, Group Chief Executive       01702  541 741
 
Ludgate Communications
Tim Davis                                   0171 253 2252
 
 
 
   

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