11th Dec 2008 16:00
HAYNES PUBLISHING GROUP P.L.C. ("The Haynes Group")
Trading update
The Haynes Group has recently completed trading for the second quarter and first six months of its financial year ended 31 May 2009. During the latter stages of the second quarter the Group has experienced a marked weakness in trading in its principal geographical markets as global economic conditions deteriorated.
The worsening economic environment has had a negative impact on the Group's sales in the second quarter and will have an adverse impact on our trading results for the first six months of this financial year.
We need to emphasise however, that the Haynes Group continues to be a very profitable and cash generative business. For several years now, the US Dollar exchange rate movement has adversely affected Group profitability by substantial amounts. In recent months this rate has moved in the other direction and if it is maintained at current levels over the next six months, should have a mitigating impact on Group results.
The Group will report its half year results on Thursday 29th January 2009 and will provide a further trading update at that time.
Cautionary Statement :
This report contains certain forward-looking statements with regards the financial condition and results of the operations of Haynes Publishing Group P.L.C. These statements and forecasts involve risk factors which are associated with, but are not exclusive to, the economic and business circumstances occurring from time to time in the countries and sectors in which the Group operates. These forward-looking statements are made only as at the date of this announcement. Nothing in this announcement should be construed as a profit forecast. Except as required by law, Haynes Publishing Group P.L.C. has no obligation to update the forward-looking statements or to correct any inaccuracies therein.
Enquiries :
Haynes Publishing Group P.L.C.
|
John Haynes OBE, Chairman |
01963 442009 |
|
Eric Oakley, Group Chief Executive |
01963 442009 |
Related Shares:
HYNS.L