Business
Trading Statement
Trading Statement.
About this update from Discoverie Group Plc
[{"type":"text","content":"\n \nRNS Number : 1795F Acal PLC 26 July 2016 \n\nFor Release \n7.00am, 26 July 2016 \nAcal plc\nFirst Quarter Trading Update\n \nAcal plc (LSE: ACL, \"Acal\" or the \"Group\"), a leading international supplier of customised electronics to industry, today issues a trading update for the first quarter of the financial year ending 31 March 2017, covering the period from 1 April 2016 to 30 June 2016.\n \nFirst quarter Group profits were in line with our expectations and our outlook for the year is unchanged. \n \nAs noted at the time of the results in June, sales were slower, with gross margins higher than last financial year. Since the end of the quarter, orders to date in July have been ahead of last year with a positive book to bill ratio. \n \nWe continue to keep a tight control on costs and are taking further actions to improve efficiency across the Group by closing three Nordic manufacturing facilities and transferring production into existing lower cost facilities elsewhere in the Group, and by reducing operating costs. \n \nWith 80% of Group revenue derived outside the UK, we expect to benefit from the translation impact of Sterling's recent depreciation1 more than offsetting the impact of foreign exchange movements on UK imports, assuming current rates persist. \n \nWe design, manufacture and supply essential technologies to growth markets which have excellent potential. Whilst it is too early to know the impact of the Brexit vote, with our differentiated market position, we expect to make further progress during the year. \n \n \nFor further information, please contact:\n \nAcal plc 01483 544 500\nNick Jefferies - Group Chief Executive \nSimon Gibbins - Group Finance Director\n \nInstin...