1st Feb 2008 07:00
Air Music & Media Group PLC01 February 2008 1 FEBRUARY 2008 Air Music & Media Group plc ("Air Group" or "the Group") TRADING UPDATE The Board of Air Group, the UK distributor of home entertainment products, todayprovides shareholders with a trading update to the end of December 2007. 31-Dec 31-Dec 2007 2006 (3 months) (3 months) £ million £ million Change Distribution 32.2 17.8 81%Wholesale 3.0 4.4 -32% 35.2 22.2 59% Sales in the three months to 31 December 2007 were £35.2 million, compared to£22.2 million in the corresponding previous period, as follows: Distribution, which services general retailers, continued to demonstratesignificant growth, at a rate higher than in the first half of the year. Theincrease in sales has been driven by the continued strong performance of DVD'sthis year, which represented 80% of Distribution sales. Distribution beganservicing a further new customer during the quarter; new customers contributed£3.5 million to Distribution sales in the 3 months to 31 December 2007. The performance at Wholesale continued the negative trend experienced in thefirst half of the year. Outlook In the Group's interim statement it was noted that pressure on margins had heldback growth in operating profits in the first half of the year. Downwardpressure on margins continued to be experienced during the third quarter (to 31December 2007) however the growth in sales was enough to result in overall grossprofits higher than the previous year period. After adjusting for exceptionalitems, the full year profits before tax for the group were £5.6 million in 2007. Based on the performance to date, the Board anticipates full year results forthe current year will be at a similar level to 2007. --ENDS-- Enquiries: AIR MUSIC & MEDIA GROUP PLC Tel: 0161 767 1620Peter Cowgill, Chairman BISHOPSGATE COMMUNICATIONS LIMITED Tel: 020 7562 3350Dominic Barretto/ Louise Cook SEYMOUR PIERCE LIMITED Tel: 020 7107 8032Mark Percy This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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