Avingtrans plc wishes to make a correction to the announcement headed “Trading
Update†which was issued on 14 December 2004 at 07:00 hours.
Sales in the six months to November 2004 including the contribution from Crown
and Metalcraft, compared with the corresponding period last year increased by
approximately 210% and not by the 557% previously stated.
All other figures and sentiments expressed in the Trading Update are unchanged.
The full amended announcement reads as follows:
For Immediate Release: 22 December 2004
Avingtrans plc
Trading Update - Correction
Avingtrans plc is pleased to inform shareholders that trading for the six
months to November 2004 is above board expectations. The whole group, including
the recent acquisitions of Crown (UK) Ltd ('Crown') and Stainless Metalcraft
(Chatteris) Ltd ('Metalcraft'), acquired in June and October this year
respectively, has performed above expectations.
In the six months to November 2004 compared with the corresponding period last
year:
Before contribution Including
from Crown and contribution from
Metalcraft Crown and Metalcraft
Like for like order intake has +67% +623%
increased by:
Like for like sales have +41% +210%
increased by:
Like for like order book has +33% +950%
increased by:
The Group's operating cash flow has also exceeded board expectations. The
directors are delighted with the organic growth as well as the performance of
the recent acquisitions in the interim period to 30 November 2004, all of which
bodes well for the outcome of the full year to 31 May 2005.
Interim results to 30 November 2004 will be published early next year.
-Ends-
For further information please contact:
Ken Baker, Chairman
Stephen King, Finance Director
Avingtrans plc
Tel. 0115 949 9020
Adam Reynolds / Ben Simons
Hansard Communications
Tel. 020 7245 1100