Business
Trading Statement
Trading Statement.
About this update from Tern Plc
[{"type":"text","content":"\n The Core Business (the \"Company)\n Trading Statement\n\n02 June 2009\n\nThe Company has experienced a decline in demand during the last quarter of its\nfinancial year as a result of its retailers destocking and a slowdown in\nconsumer demand in the retail sector.\n\nSales for the year as a whole will above those achieved last year, with the poor\nlast quarter being balanced up by a stronger first half.\n\nThe Company imports all its product ranges and makes its purchases in American\nand Australian dollars and Euros. As a consequence the Company has seen its\ngross margins severely eroded by the weakness of the Sterling, while current\nmarket conditions have limited new product development. The Company expects\nlosses for the year to be lower than in either of the last two years.\n\nAs an early stage business that has made and continues to make losses, the\nCompany has been and remains dependent on regularly raising additional capital.\nThe current challenging economic environment is not conducive to raising fresh\ncapital for early stage businesses. The Company is in discussions with both\nexisting and potential sources of capital. If the Company is unable to raise\nfresh capital then the board will have to consider whether the Company is able\nto continue in its current form.\n\n\nFor further information, please contact:\n\nThe Core Business PLC www.thecorebusiness.co.uk\nStirling Murray, Chief Executive 020 8559 8244\nAlastair Kennedy, Finance Director 020 8559 8244\n\nBlomfield Corporate Finance Ltd (Nomad)\nNick Harriss/Emily Morgan 020 7489 4500\n\nSVS Securities plc (Broker)\nIan Callaway 020 7638 5600\n\n\nNotes to Editors\nThe Core Business was established in May 2004 by Stirling Murray to create,\ndevelop, launch and distribute personal care and beauty brands. It also provides\nconsultancy and brand management services. The Company was listed on AIM in March\n2006 under the ticker `CORE.'\n\n-ENDS- \n ","length":2305,"tagName":"div"}]