Screen PLC
27 September 2002
Screen plc ('the Company')
Statement re Suspension
As part of the review by the board of the interim results of the Group for the
six months ended 30 June 2002, it has been decided to provide against certain
debtors relating to 2001 trading. This is likely to entail a provision of circa
£2 million in the results for the six months ended 30 June 2002 and the Board
believes that market expectations for the period will not be met.
A thorough review of the business is being undertaken by the Directors and the
Group's financial advisers and auditors with the immediate consequence that the
interim results will not now be published on 30 September. Discussions with the
Group's bankers are also underway. The results of this review will be announced
as soon as practicable and it is expected that executive management changes will
be announced shortly.
At a trading level, Joyce-Loebl, the Company's core operating subsidiary,
continues to perform well ahead of expectations. In addition, significant orders
have been won by other operating businesses within the Group including PMI
International, PDL and Petards Vision.
27 September 2002
Contacts:
Binns & Co. PR Ltd
Peter Binns
Tel: 020 7786 9600
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