29th Jul 2005 11:13
Crown Sports PLC29 July 2005 Crown Sports plc Trading Update The management of Crown Sports plc provide a trading update following the end ofthe first half of its trading year. The group has traded broadly in line with last year despite challenging marketconditions in the leisure sector. In addition to the competitive marketenvironment for health & fitness, the cost pressures facing the business(particularly energy costs) are increasing at a rate greater than had originallybeen anticipated. This is occurring at a time when the consumer economy hasclearly become more difficult, which we believe has contributed to membershipgrowth being slower than expected. As a consequence we believe that it isprudent to take a more cautious view on the short-term outlook for the group.While we expect profits for the year (before goodwill and exceptionals) to bematerially ahead of 2003, they are likely to below the strong result achieved in2004. The company will announce its interim results for the six months to 30 June 2005on 28 September 2005. Contacts James Strong Buchanan Communications Tel 020 7466 5000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
CSP.L