Information  X 
Enter a valid email address

Swallowfield PLC (BAR)

  Print          Annual reports

Monday 29 April, 2002

Swallowfield PLC

Trading Statement

Swallowfield PLC
29 April 2002

Swallowfield plc Trading and Investment Update



During the 16 weeks to 20th April, sales for the group as a whole have been
broadly in line with our expectations.



Sales in the cosmetics business were 27% below the levels of a year ago in part
reflecting a weak market sector and greater seasonality. We do not expect a
significant improvement before the year-end on 30th June although there are
tentative signs that the market may be improving and orders for gift packs for
Christmas 2002 delivery are above last year's levels.



As expected, sales in the Aerosols business have been broadly level with the
same period last year. However, the order book has picked up strongly and in
unit volume terms now stands at record levels.  Unit volume based order intake
in the first 16 weeks of the calendar year is 51% ahead of last year's levels
and enquiry levels are strong across the board in this business.



In order to continue the growth plans on the Wellington Site, the company is
investing £2m in a new factory extension and laboratory facility over the next
12 months. The investment will be financed from existing facilities provided by
the Group's main Bankers, Royal Bank of Scotland plc.



Tony Wardell, Group Managing Director commented, 'this investment is necessary
to provide the additional infrastructure capacity required to meet the site's
five-year growth plans. At the same time the new building will provide
additional office and laboratory space and will enable us to continue our
commitment to innovation and new product development.'



                      This information is provided by RNS
            The company news service from the London Stock Exchange
                                                          

a d v e r t i s e m e n t