6th Oct 2006 07:01
Watermark Group PLC06 October 2006 Embargoed for release at 07:00hrs on 6 October 2006 6 October 2006 Watermark Group Plc ("Watermark" or "the Company") Clarification of Interim Statement Further to the Company's interim results announcement of 28 September 2006 ("theInterims"), the reference in the Chairman and Chief Executive's letter to theguidance for the year to 31 December 2006 requires a definitional correction.Pre exceptional, pre tax profit was stated as being "likely to be in the rangeof £2.0m - 2.5m". Whilst these numbers remain correct, they should have beendefined as pre exceptional, pre tax profit, post provision for exceptional baddebts. As stated in the Interims, provision for exceptional bad debts, as at 30June 2006, was £1.074m. In addition, as stated in the Interims, the board is progressing with theCompany's comprehensive restructuring review. This review may result insignificant exceptional items, largely comprised of restructuring charges, beingincurred in the year to 31 December 2006. The board anticipates being in aposition to provide further guidance as to the quantum of these exceptionalitems by 30 November 2006, at which point a further announcement will be made. The Company would like to emphasise that this clarification solely relates tothe forecast guidance and that the financials stated in the Interims remainunchanged. For further information contact: Maurice Ostro/Crispin QuailWatermark Group plcTel: 020 8606 1300 Jeremy CareyTavistock CommunicationsTel: 020 7920 3150 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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