3rd Jun 2008 07:00
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For Release |
7:00 am |
3 June 2008 |
DELLING GROUP PLC (DLG.L)
The AIM-listed marketing support services group
Re: Preliminary results for the year ended 31 December 2007
Delling Group PLC ("Delling" or the "Company"), the only listed marketing support services group on AIM whose principal assets are in Scandinavia, announces that its unaudited preliminary results for the year ended 31 December 2007 will show turnover of approximately £17.5m, which represents an increase of 67 per cent compared to 2006, and a significantly reduced loss before interest, depreciation and amortisation of £1.6m compared to a loss of £4.4m in 2006. Delling's final results will be released towards the end of June.
The Company experienced a difficult 3rd quarter due to subdued business activity and problems with a loss making subsidiary that negatively affected the results. Despite considerable progress (announced on 23 October 2007) in turning around this subsidiary and although strong trading returned in the 4th quarter, neither were sufficient to neutralise the impact on the results.
Since last autumn, the company has integrated the 2 acquisitions made in the latter half of 2007, Dekorateljen and Hennix, and has implemented a complete integration of the businesses in Sweden and Norway into one Marketing Support Services unit in each country. Actions were taken to improve the management in the Exhibition business area to improve the integration process. In connection with this process, we have closed down both one office and one production facility, which has further made it possible to reduce costs with limited impact on trading volumes.
As announced previously, the effect of this integration process and cost reduction activity, which started last autumn, has reduced the head count by around 40 to approximately 110 employees. The effect of these activities has started to come through and the Group is pleased to announce trading in the 1st quarter of 2008 was profitable.
ENDS
For further information please contact:
Contact:
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Delling Group Plc |
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Aksel Bratvedt, Chairman |
Tel: 020 7484 5663 |
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Geir Lolleng, CEO |
Tel: +46765276024 |
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www.dellinggroup.com |
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Adventis Financial PR |
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Tarquin Edwards |
Tel: 020 7034 4758 / 07879 458 364 |
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Ambrian - Nominated Advisor |
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Hugh Oram |
Tel: 020 7634 4700 |
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