Anglian Group PLC
2 February 2000
Anglian Group PLC
2 February 2000
Current Trading Update
As announced with Anglian's interim results, the production restraints which
adversely affected first half sales were resolved. These have not further
affected product supply.
However, turnover and profitability since then have been below expectations.
Anglian has experienced a slower than expected recovery of demand in its new
build and public housing sectors, tight labour markets particularly in the
South East and higher operating costs, caused by the major production
constraints reported in the first half. As a result, turnover for the year to
1 April 2000 is expected to be flat and operating profits are now expected to
fall short of the prior year.
The fundamental strengths of the business, however, remain and the management
team will continue to invest in Anglian's premium brand and to develop its
strong market position. It is the Directors' current intention to recommend an
increased final dividend for the year in line with their existing dividend
policy.
Contacts:
Anglian Group PLC 01603 787000
Eddie Boss, Chief Executive
Robert Aitken, Finance Director
Financial Dynamics 020 7831 3113
Tom Baldock