RNS Number:9518V
Crown Sports PLC
20 December 2005
Crown Sports plc
Trading Update
The management of Crown Sports plc provide a trading update as it approaches the
end of its current trading year.
We announced at our interim results in September that as a result of a slowdown
in membership sales we were significantly increasing our marketing investment.
As a result of the action taken we have seen several months of strong new joiner
growth which, combined with a stabilising attrition rate, we anticipate will
result in our overall membership levels being ahead at the end of the year.
We also communicated that we were seeing significant increases in electricity,
gas and business rates, that have continued to impact upon the business in the
second half of the year.
As a consequence we believe that it is prudent to continue to take a cautious
view on the short-term outlook for the group. While we expect pre-tax profits
for the year (before goodwill and exceptionals) to be ahead of 2003, they will
be below the strong result achieved in 2004 and below current market forecasts.
The company will announce its final results for the twelve months to 31 December
2005 on 4th April 2006.
Enquiries:
Mark Edwards
Buchannan Communications Tel 020 7466 5000
This information is provided by RNS
The company news service from the London Stock Exchange
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