27th Apr 2007 07:01
Reliance Security Group PLC27 April 2007 Reliance Security Group plc Trading Update 27 April 2007 The Directors of Reliance Security Group plc are pleased to provide an update,prior to the commencement of the close period, on the Group's tradingperformance and prospects. We believe that the Group's trading results for the year to 27 April will beslightly ahead of our previous expectations. Cash generation continues to begood and the Group remains financially strong. In security services, our earlier heavy investment in compliance with therequirements of industry regulation has yielded benefits. We have reversed thetrend of the three previous years and have enjoyed strong volume growth in theyear, although the rate of growth in new business slowed significantly in thesecond half. The market remains competitive with continuing pressure onmargins. In the facilities management and business process outsourcing markets, we haveseen organic growth in our business with existing customers and havesuccessfully mobilised a number of new contracts. These factors, together withsuccessful management of existing contracts, have compensated for contracts lostin the previous year. The Directors believe that the outlook for the coming year is encouraging. Insecurity services, we anticipate the beneficial effects of regulation willcontinue, though the market will remain very competitive. In the large anddynamic facilities management and business process outsourcing market, therewill be opportunities for further growth. Reliance expects to announce its results for the year to 27 April 2007 on 28June 2007. Note: Reliance is an established market leader in the provision of contract security,facilities management and support services and in business process outsourcing.Reliance employs over 12,000 people from a network of offices throughout the UK. Enquiries: Brian Kingham 0207 7730 9716Chairman Julian Nicholls 01895 205002Group Managing Director This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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