18th Mar 2008 15:05
Beale PLC18 March 2008 BEALE PLC INTERIM MANAGEMENT STATEMENT AGM STATEMENT, TRADING UPDATE 18 March 2008 In his address to shareholders at the Company's Annual General Meeting thisafternoon, Chairman Mike Killingley said: "Like for like gross sales (including VAT) for the 13 weeks to 2 February 2008,our first quarter, were 6.0% less than for the previous year. This is broadly inline with my chairman's statement accompanying the announcement of our resultsfor last year, issued on 28 January. Our store in Ealing was closed at the end of the last trading year. Includingthat store's comparable performance, gross sales for the first quarter were14.3% below those in the previous year. During the first quarter, despite the sales shortfall, gross margins weremarginally higher than last year. The first quarter's expenses were considerablylower, partly because of the absence of Ealing, but also as a result of theexpense reduction exercise undertaken last year. Since the end of the first quarter, high street trading conditions have remainedchallenging. Like for like gross sales (including VAT) for the first 19 weeks,to 15 March, were 6.1% below the previous year. As ever, your Board will continue to explore all opportunities to maximiseshareholder value." For further information: Beale PLC Tavistock Communications Blue Oar SecuritiesAllan Allkins, Chief Executive Lulu Bridges Jerry Keen Ken Owst, Finance Director Polly Hutchinson Tel: 020 7448 4492 Tel: 01202 552022 Tel: 020 7920 3150 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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