RNS Number : 5676F
Parkwood Holdings PLC
28 April 2011
Parkwood Holdings plc
("Parkwood" or the "Group")
Interim Management Statement
28 April 2011
Parkwood, the specialist support service group, issues the following Interim Management
Statement covering the period 1 January 2011 to date.
The trading performance of the Group's principal divisions, Parkwood Leisure and Glendale, was consistent with both prior year performance and the current year budget. No significant new contracts have been won or lost in the period but the Group continues to actively work on several tender opportunities.
The much smaller divisions of Healthcare and Parkwood Consultancy Services have had a slow start to the year and both businesses are seeking opportunities to improve their profitability in the face of mixed trading conditions.
The Group's current order book is GBP528 million (31 December 2010: GBP535 million).Cash flow remains strong and the Group continues to utilise its overdraft facility for short periods. The Group has no term loans.
The expected sale of the Recycling business is proceeding in line with expectations and is still expected to complete in the first half of the current year. No significant profit or loss on sale is anticipated.
For further information, please contact Tony Hewitt or Mike Quayle on 01772 627111.
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