Macfarlane Group PLC
19 December 2003
19 December 2003
MACFARLANE GROUP UPDATE
In March 2003, Macfarlane indicated that its short-term property disposal
programme anticipated disposal proceeds in excess of £12.0m. On 28 November
2003, following the disposal of the Linwood site, Macfarlane reported cumulative
proceeds in the year to date of £8.6m and identified that there were five
further sites for sale. Expressions of interest have already been received in
respect of three of these sites and proceeds from the five sites are currently
estimated to be in excess of £10.0m, giving total estimated proceeds in excess
of £18.6m.
The Board is committed to reducing the current level of debt and improving the
trading performance of the group. The review of group operations, currently
being undertaken by the Chief Executive is progressing and the results of this
review will be communicated as part of a pre-close trading update in the second
half of January 2004.
Further information:
Archie S. Hunter Chairman 0141 333 9666
Peter D. Atkinson Chief Executive 0141 333 9666
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