13th Oct 2005 13:00
Haynes Publishing Group PLC13 October 2005 HAYNES PUBLISHING GROUP P.L.C. CHAIRMAN'S STATEMENT AT THE A.G.M. At the A.G.M. held today (13th October 2005) Mr. J.H. Haynes OBE, Chairman, madethe following statement: "In the Annual Report we stated that the year ahead would be challenging. Since then we have seen the widely reported weakness in high street retailsales. The impact of two devastating Hurricanes in the Southern U.S. and higherU.S. gasoline prices, which together with increased raw material prices havefurther added to the challenge in our most important market. In response, the U.S. business is in the process of passing through asignificant price increase and the Australian business is also increasingprices. Similar increases in other operating companies are inevitable in theshort term. In the U.K., an Advertising and Promotions Campaign begins later this month anda similar campaign is scheduled for the U.S. later in the year. We believe thatthis and the pricing response above represents a realistic opportunity for theoverall business to meet market expectations with regard to its performance forthe year as a whole. I would prefer not to say anything more at this stage asthis simply invites speculation. Be assured that we shall report in much greater detail at the half year." Mark VenablesGroup Company Secretary This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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