24th Apr 2007 07:03
Yell Group plc24 April 2007 Close Period Trading Statement In advance of the publication on May 22 of its preliminary financial results forthe year ended 31 March, 2007, Yell Group plc ("Yell") today issues thefollowing trading update. For the financial year to March 31, 2007, Yell reiterates its confidence inmeeting market expectations, with internet revenues continuing to show rapidgrowth and operating cash flow remaining strong. In the US, the competition environment has intensified further. This leads Yellnow to believe that US organic revenue growth for the current financial year islikely to be around 3%. Expectations for the UK and Spanish businesses are maintained. The UK businesscontinues actively to plan the development of its marketing and service offer,looking ahead to the favourable change in printed directory regulation in Aprilnext year. In Spain, the impact of Yell's actions on revenues and costs isexpected progressively to start to have effect during the year. John Condron, Chief Executive Officer, said: "While the underlying share shifttowards independent directories continues in the US, the pace of competition hasincreased as incumbents seek to protect their share and new books are publishedby both independents and incumbents. In the longer term, we believe this willlead to a shake-out in the market. In the near term, though, it will impact therate of our US organic revenue growth." Enquiries Yell - InvestorsJill SherrattTel +44 (0)118 950 6984 Mobile +44 (0) 7764 879808 Yell - MediaJon SalmonTel +44 (0)118 950 6656 Mobile +44 (0) 7801 977340 Citigate Dewe Rogerson - MediaAnthony CarlisleTel +44 (0)20 7638 9571 Mobile +44 (0) 7973 611888 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
HIBU.L