Interim Management Statement

Tex Holdings plc

Tex Holdings plc is today issuing its Interim Management Statement for the third quarter's trading.

Trading is below expectations and is also behind the previous year's performance. The order book has softened in certain markets, but remains at £10,000,000.

The exception is the Plastics Division, where order levels have improved during the year and, with the teething troubles of a major project behind us, the close to the year is expected to be satisfactory.

Subsidiaries in the Engineering Division have noticed a reluctance to place orders even though the enquiry levels remain at historically high levels. This division has benefited from its wide ranging export markets.

The Boards & Panels Division has maintained its share of supply to the caravan industry, but the market itself has contracted. However the activity within the Quikaboard market has improved.

Outlook

The anticipated profit for the year will be below last year, but still satisfactory.

With many uncertainties world-wide and at home, we advance with caution.