LONDON (Thomson Financial) - Waterline Group PLC warned its full-year pretax
profit is expected to be "significantly lower" than market expectations.
The suppliers to the fitted kitchen industry in the UK said the reduction is
expected due to poor trading conditions in January and February 2008,
particularly for kitchen furniture.
The company also cited as causes a reduction in customer confidence as they
saw their turnover slowing, significant increases in fuel costs through January
and February 2008, and the weakening of the sterling against the euro in the
final quarter of the year to March 31 2008.
The company said it believes the trading conditions will continue to be
challenging in the final quarter and into the first half of the following
financial year.
While there are signs of improvement for the year ending March 31, 2009, it
is cautious about trading in the early part of next year, the company said.
TFN.newsdesk@thomson.com
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