Business
Resignation of CEO, notice of results and update
Resignation of CEO, notice of results and update.
About this update from Autins Group Plc
[{"type":"text","content":"\n \nRNS Number : 6681V Autins Group PLC 01 February 2017 \n\n01 February 2017\n \nAutins Group plc\n(\"Autins\" or the \"Group\")\n \nResignation of Chief Executive, Notice of Results and Update on Trading\n \nAutins Group plc (AIM: AUTG), a leading UK designer, manufacturer and supplier of acoustic and thermal insulation solutions for the automotive sector, announces that Jim Griffin has, for personal reasons, resigned as Chief Executive Officer and a member of the Board with immediate effect.\n \nThe Board has commenced a process of identifying a suitable replacement Chief Executive Officer and a further announcement will be made as soon as possible.\n \nThe Group expects to publish its preliminary results for the financial year ended 30 September 2016 on Tuesday 7 March 2017. The Board can confirm that these will be in line with market expectations and sales for the first quarter of the current financial year have been in line with the Board's expectations.\n \nThe Board, however, is now aware that a major customer has provided revised volumes and introduction timings for certain platforms. In consequence, the Board expects that revenues for the current year will be materially lower than market expectations. The Board is currently evaluating the likely impact on the year to 30 September 2018 and will provide guidance at the time of the publication of the preliminary results for 2016.\n \nThe continuing strategic focus of the Board is to diversify the Group's automotive customers, drive growth in non-automotive applications and expand the geographic footprint. The Board believes that the Group remains on track to become a leading provider of premium acoustic and thermal materials and components to a wide range of sectors and customers. \n \nFor further information please contact: \n \n\n\n\n\nAutins Group plc\nAdam Attwood, Non-Executive Chairman\nJames Larner, CFO\n \n\n\nVia Newgate\n\n\n\n\nCantor Fitzgerald Europe\n(Nominated Adviser and Broker)\nPhilip Davies\nWill Goode\nCallum Butterfield\n \n\n\nTel: 020 7894 7000\n\n\n\n\nNewgate Communications\n(Financial PR)\nAdam Lloyd\n \n\n\nTel: 020 7653 9850\n \n\n\n\n\n \nAbout Autins\nAutins specialises in the design, manufacture and supply of acoustic and thermal insulation solutions primarily...