26th Mar 2008 07:01
SMC Group Plc26 March 2008 26 March 2008 SMC Group Plc Trading Update and Notice of Results Following the successful restructuring, refinancing and strengthening of themanagement team which has taken place since June 2007, SMC Group Plc is pleasedto announce the following trading update ahead of its preliminary results duefor publication on 3rd April 2008: •H2 07 revenues are expected to be approximately £23.0m vs H1 07 revenues of £21.1m - an increase of circa 9% from the first half, giving full year 07 revenues of circa £44.1m; and •H2 07 EBITDA* is expected to range between £3.7m and £4.0m vs H1 07 EBITDA* of £1.2m - an increase of at least 300% from the first half, giving expected full year 07 EBITDA* of between £4.9m and £5.2m. * EBITDA stated before exceptional itemsWhilst recognising the one off charges associated with the restructuring,refinancing and write downs incurred in the year, the Board believes that thesteps taken during 2007 have been effective, resulting in cost savings andincreased revenues as demonstrated by the expected increases in H2 07 revenuesand EBITDA (before exceptional items) over those reported in the first half. From this new base, trading in 2008 continues to be robust and the Boardbelieves further opportunities for efficiencies and growth via integration ofthe businesses can be realised. Executive Chairman, Sir Rodney Walker said," I am pleased with the progress thebusiness has made since last summer. With the debts of the business, includingcontingent consideration, significantly reduced as a result of the open offerand with stronger management in place, led by new MD Chris Littlemore, in place,we can now continue to build on the opportunities open to us as one of the UK'sleading architectural services businesses." - ends - For further information: SMC Group Plc Tel: +44 (0)20 7495 5335Chris Littlemore/Rob Boardman Numis Securities Limited Tel: +44 (0)20 7260 1000Stuart Skinner/Brent Nabbs/JamesSerjeant Bell Pottinger Corporate & Financial Tel: +44 (0)20 7861 3232David Rydell/Chris Hamilton This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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