Leeds Group PLC Trading Update (1479G)
May 25 2017 - 2:00AM
UK Regulatory
TIDMLDSG
RNS Number : 1479G
Leeds Group PLC
25 May 2017
Leeds Group plc
(the "Company")
Trading Update
Leeds Group wishes to update the market on its expectations for
the 52 week period to 31 May 2017.
As noted in our Interim Report, trading performance at our
operating subsidiaries was lower than expectations in the first
half of the year although the overall performance of the Group was
higher than the previous year due to foreign exchange gains. The
Company had identified that performance was constrained by a
shortage of double folding capacity which reduced our ability to
service our customers as quickly as they required. We responded to
this with a significant capital expenditure programme which
eliminated the need for third party double folding and warehousing,
bringing them inhouse to enlarged properties owned by the Hemmers
business.
Trading performance of the operating subsidiaries in the second
half of the year has been below our expectations with the
restructuring taking longer than expected. The Group profit before
tax for the full year is therefore expected to be lower than what
was reported last year.
The Board is confident that the restructured business is well
positioned to deliver future growth.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Enquiries:
Leeds Group plc
Dawn Henderson
07747 777055
Cairn Financial Advisers LLP
Tony Rawlinson
Liam Murray
Richard Nash
020 7213 880
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTEALSLALDXEFF
(END) Dow Jones Newswires
May 25, 2017 02:00 ET (06:00 GMT)
Leeds (LSE:LDSG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Leeds (LSE:LDSG)
Historical Stock Chart
From Apr 2023 to Apr 2024