13th Nov 2014 11:12
LONDON (Alliance News) - Personal care and beauty products company Swallowfield PLC Thursday said it has traded in line with its expectations in the first four months of its new financial year and it expects profits to meet market forecasts for the full year.
The group said it traded broadly in line with expectations in the four months since July 1, with new customer wins and product launches boosting performance. The performance has been partially offset, however, by the weakness of the euro and customer mix, it said.
The group said it is making progress on its development programme and said the timing of new strategic projects, the phasing of contract wins and the seasonality of some of its customers will mean its results are weighted to the second half.
It expects to meet market expectations for profitability in the full year, despite market conditions looking challenging.
Swallowfield shares were untraded on Thursday, having last traded at 90.5 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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