2nd May 2008 07:00
Best of the Best PLC02 May 2008 BEST.L Best of the Best plc ("the Company") Trading Update Best of the Best PLC, which displays luxury cars as competition prizes withinairport terminals and online, is pleased to announce a trading update. Trading Update Revenues for the full year ended 30 April 2008 are expected to be slightly belowmarket expectations. Due to the high operational gearing of the business even asmall reduction in revenues will have a disproportionate impact on profits andtherefore although revenue and profit is expected to be well ahead of the yearto 30 April 2007, profits are expected to be below market expectations for theyear to 30 April 2008. The shortfall in revenues is largely attributable to the loss in November 2007of the site in Heathrow's Terminal 3, which we were unable to include in our new7 year pan-airport contract due to the reconfiguration of retail space and theexpansion of security facilities. Unfortunately, although other new sites wereexpected to compensate for any loss in revenues from Terminal 3, fullintegration of the new sites in Copenhagen and Heathrow Terminal 5 has beenslower than expected. However, our new flagship site in Terminal 5 has been wellreceived and recently started to trade well despite the delay in the transfer offlights to the new terminal. Initial trading of our first site overseas atCopenhagen has been satisfactory from a temporary site but we look forward tothe completion of unanticipated building works in the terminal so we can installour permanent site and it can realise its full potential. Overall our airport sites continue to perform well, despite the tougher retailconditions being experienced in the wider market. Having agreed terms, we are inthe process of signing a contract to open in Bristol airport and we arecontinuing to explore opportunities with further overseas airports, and otherretail venues in the UK. The results for the year ended 30 April 2008 will be released during the weekcommencing 14 July 2008. Enquiries: Best of the Best plc William Hindmarch, T: 020 7371 8866 Chief Executive Rupert Garton, Commercial Director Charles Stanley Securities Mark Taylor T: 020 7149 6000Nominated Adviser Freddy Crossley 6 Biddicks Shane Dolan T: 020 7448 1000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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