CEPS PLC Trading Update (6648J)
August 20 2019 - 8:07AM
UK Regulatory
TIDMCEPS
RNS Number : 6648J
CEPS PLC
20 August 2019
CEPS PLC
("CEPS" or the "Company")
Trading update
The Board of CEPS announces a trading update.
On 17 June 2019 The Board announced in the AGM Statement that
the Group as a whole was trading in line with budget for the four
months to 30 April 2019.
Since this date, Aford Awards, Friedman's and Hickton/BRCS have
continued to perform either in line with expectations or well above
expectations, but losses at the CEM group, now including Sampling
International, have increased significantly. This is due in part to
the material integration and rationalisation costs, including the
redundancy costs of 27 people, relating to the acquisition of
Sampling International in March 2019 which were unbudgeted.
Turnaround at Sampling International is now well underway as the
company enters into what has been historically its busiest period
of the year. However, as part of the rationalisation programme
certain business has been moved to Sampling International from CEM
where it can be better and more efficiently serviced. Clearly this
has, in the short term, left a gap in the sales and output at
CEM.
In addition, Davies Odell's performance for H1 was below budget
and showed a small loss but has now returned to profit at the end
of July 2019.
Consequently, Group trading overall is materially behind
expectations for the six months to 30 June 2019.
Further analysis of individual subsidiary company performance
will be provided in the Half Yearly Report to Shareholders 2019
which will be available in September 2019.
The announcement contains inside information for the purposes of
Article 7 of EU Regulation 596/2014.
Enquiries
CEPS PLC
David Horner, Chairman +44 1225 483030
Cairn Financial Advisers LLP
Tony Rawlinson, James Caithie, Richard Nash +44 20 7213 0880
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TSTSESFESFUSESA
(END) Dow Jones Newswires
August 20, 2019 08:07 ET (12:07 GMT)
Ceps (LSE:CEPS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ceps (LSE:CEPS)
Historical Stock Chart
From Apr 2023 to Apr 2024