Information  X 
Enter a valid email address

Tomkinsons PLC (TMKN)


Friday 20 August, 1999

Tomkinsons PLC

Trading Stmt & Takeover Talks

20 August 1999

                          TOMKINSONS plc
            Trading Statement and Takeover Discussions

The  Company has been in takeover discussions, which have involved
more than one party, for some time. The Board is therefore pleased
to announce that discussions are at an advanced stage on the terms
of  a cash and share offer at or around the prevailing share price
of  180p,  full  details of which will be announced  and  sent  to
shareholders in the near future.

These  discussions have absorbed considerable management time  and
have proved a distraction from the normal running of the business.
The  Board  recognises the adverse impact that  such  a  prolonged
period of uncertainty has had on both morale and performance.

For  the  six  months  ended 3 April 1999 the Company  reported  a
decline  in  sales  of 3.8% compared to the previous  year.   This
performance reflected the difficult market conditions  during  the
period  and  was  consistent  with the deterioration  in  consumer
demand being reported by the major home furnishing retailers.

Since  the interim announcement, trading has fallen further behind
such that sales for the ten months to 31 July were 6.6% lower than
last  year,  albeit  on an equivalent number of  sales  weeks  the
shortfall was 4.4%.  There has been little evidence of improvement
in  the  retail  sector during recent months, though traditionally
demand for residential carpets is at its lowest during the summer.

As previously reported, the Company has continued to invest in its
product  base  and  the  infrastructure to support  new  marketing
initiatives.  The benefits of this investment will come through in
the  months  ahead, however, the cost base will have increased  in
the short term.

For further information please contact:

Mike Hield, Chief Executive, Tomkinsons plc    01562 820 006

Andy Yeo, Buchanan Communications              0171 466 5000


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