5th Dec 2007 07:00
Brammer PLC05 December 2007 Brammer plc (Brammer or the "Company") Pre-close trading update Brammer plc, the European industrial services group, today announces a pre-closetrading update for the financial year end 31 December 2007. Brammer has continued to trade strongly in the second half of the financial yearacross all of its European markets. Accordingly, the Board now expects sales andprofits for the current financial year to be somewhat ahead of marketexpectations. Sales per working day (SPWD) in the 5 months to 30 November have grown at 23.3%including acquisitions and 12.9% organically, continuing the trend ofsignificant market share gains. Growth continues to be driven principally by keyaccount sales growth, cross-selling, and our segment focused marketingprogrammes. The acquisitions made during the year in Poland, Ireland, UK, Spain and theCzech Republic, have all bedded in well and are performing in line with ourexpectations. In order to finance our continued acquisition programme we havesecured a 50% increase in our credit facility to €165 million. Net debt at theyear end is expected to be in line with expectations, subject to the £/•exchange rate. Current trading in the fourth quarter remains strong. The Board believes thatthe Company's prospects for next year are underpinned by the full year impact ofacquisitions, increased exposure to faster growing Eastern European markets,continued market share gains and increasing volumes through our Pan-European keyaccount contracts. The Company will announce its preliminary results for the year ended 31 December2007 on 25 February 2008. Enquiries: Brammer plc 0161 902 5572 David Dunn, Chairman Ian Fraser, Chief Executive Paul Thwaite, Finance Director Issued: Citigate Dewe Rogerson Ltd 020 7638 9571 Martin Jackson This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
BRAM.L