5th Jun 2015 13:13
HAVELOCK EUROPA PLC
("Havelock", "Havelock Europa" or the "Company")
Annual General Meeting and Directorate change
Havelock Europa (AIM:HVE.L), the international interior solutions provider, announces that at its Annual General Meeting held at 12 noon today, 5 June 2015, the Chairman , David MacLellan, made the following statement:
"Progress continues to be made by the Group and during May we successfully completed our head office move into a modern, efficient working environment, close to the factory. The recent appointment of the new CEO, David Ritchie, will bring renewed energy to our strategic goals of diversifying the customer base of the business across and within our chosen sectors.
As in previous years the Company expects to experience lower demand in the first half of 2015 than the second. Demand in Retail and Financial Services is currently subdued, but we are encouraged by good levels of activity in the Education and International Sectors. Forward visibility for the second half, especially within the Retail sector, remains limited, making a prediction on full year 2015 outcome difficult. However, as highlighted in the Company's 2014 Final Results, an important focus is on seeking to reduce the over reliance on second half performance.
We are taking action to ensure that our cost structures remain competitive and are streamlining processes to deliver the best customer experience and improve margins. This objective will be helped when the new ERP system goes live at the end of the year."
Further to the announcement made on 15 May 2015 the Company, confirms that Andrew Burgess has resigned as a Director with effect from 4 June 2015. The Board would like to thank Andrew for his valuable contribution to the business and wish him well in his new venture.
Enquiries:
Havelock Europa PLC 01592 643883
David Ritchie, CEO
Ciaran Kennedy, Finance Director
Stifel Nicolaus Europe Limited (Nomad) 020 7710 7600
James Grace
David Arch
Cardew Group 020 7930 0777
Shan Shan Willenbrock
Tom Horsman
Related Shares:
Havelock Europa