9th Jun 2005 10:00
Low & Bonar PLC09 June 2005 9 June 2005 Low & Bonar PLC Low & Bonar PLC today announced a cost restructuring programme in its FloorsDivision. The difficult market conditions in the floors market indicated at thetime of our AGM are continuing and have impacted margins in this division in thefirst half. Restructuring costs of c.£1m will be incurred in the second half ofthe year in order to aid the recovery of margins. The financial position in thefirst half was compounded by the undertaking of an unusually high level ofactivity relating to new product introductions. Trading in our Plastics and Yarns & Fabrics Divisions remains in line with ourexpectations with some evidence that raw material prices are beginning to fall. The interim results for the 6 months to 31 May 2005 will be announced inmid-July. Enquiries: Paul Forman, Group Chief Executive,Low & Bonar PLC 020 7298 6820 David Trenchard, Tulchan Communications 020 7353 4200 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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