13th May 2005 12:00
Laird Group PLC13 May 2005 13 May 2005 THE LAIRD GROUP PLC AGM Statement Nigel Keen, Chairman, will today say the following at The Laird Group's AnnualGeneral Meeting:- "We have maintained our momentum in 2005 with positive organic turnover growth,at constant exchange rates, again being achieved and with further development ofour Asian businesses. At Laird Technologies, demand for antenna and shielding products for thecellular handset market has been strong. The integration of Centurion WirelessTechnologies, acquired in October 2004, has continued to proceed according toplan, and the integration of Cateron Corporation, acquired in January this year,is also progressing well. As previously announced, trading at Laird Technologies' plant in Pennsylvania,USA, was affected by flooding at the beginning of April. Production has nowresumed and production at other Laird Technologies' plants has been increased.The guidance regarding the financial effects of the flood, which we gave on11 April 2005, is maintained. At Laird Security Systems, our North American businesses have maintained thegrowth seen in recent years. In the UK, sales of composite doors are at higherlevels than in 2004 and growth in that business is expected to continue,particularly following the acquisition of Securidor announced earlier this week. The UK window and conservatory markets have, as expected, continued to bechallenging and the downturn so far this year has been more pronouncedthan anticipated. The effect of this, together with the effects of highercommodity prices, has been to reduce profits at our businesses serving thesemarkets, compared with last year. However we expect to see progressively thebenefits of the cost reductions which we have implemented. With the strength of our businesses and the diversity of our products andmarkets, we look forward to continuing to make progress in the remainder of2005." Contacts: The Laird Group PLC +44 (0)20 7468 4040 Peter Hill, Chief ExecutiveJonathan Silver, Finance Director The Maitland Consultancy +44 (0)20 7379 5151 Brian Hudspith / Charlotte Barker The Laird Group: Laird is a leading global electronics and security systems group employing over8,000 people in operations in North America, Europe and across Asia. Laird Technologies is the global market leader in the design and supply ofelectromagnetic interference (EMI) shielding, thermal interface products andwireless antenna solutions for all sectors of the electronics industry,including telecommunications, data transfer and information technology, as wellas to the automotive, aerospace and defence, consumer electronics, medical andindustrial markets. Its products, often co-designed in conjunction withcustomers, are critical in protecting or enhancing the performance of electronicdevices. Laird Security Systems is a leader in the design, development, manufacture anddistribution of innovative solutions to improve performance and enhance securityfor the residential building and home improvement markets. Laird SecuritySystems is the overall market leader in the UK for window and door hardware andhas established a growing presence in the UK high specification composite doorand conservatory markets. It is also a market leader in North America, supplyinga comprehensive range of high quality security, hardware and sealing productsfor windows and doors. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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