17th May 2007 12:21
Swallowfield PLC17 May 2007 Swallowfield plc Trading Update Swallowfield plc is pleased to announce an update on current trading and on theprogress of the proposed sale and leaseback of its warehouse facility. Trading Update: Trading in the second half of the financial year has been stronger thanexpected. Operational efficiencies continue to improve and cost control hasbeen better than anticipated. At the same time our focus on management of themargin mix continues and we have been successful in winning a greater share ofhigher quality business opportunities. On the basis of the performance of the last few months and our current orderbooks, we expect trading for the current financial year to 30 June to be aheadof current market expectations. While we remain cautious about the first half of the next financial year, ourrecent successes in winning new business give cause for optimism beyond this. Sale and Leaseback Progress: In our interim report and accounts of 1 March 2007, we indicated that we had, inprinciple, agreed headline terms for the sale and leaseback of our freeholdproperty at Lowmoor, Wellington. The sale process is taking longer than weoriginally expected but it remains our intention to continue to pursue thisactivity and we will update shareholders in due course. Finally, we expect the final results for the year to 30 June 2007 to bepublished in the first half of September in accordance with the Company's usualreporting timetable. For Further Information: Swallowfield plc:Ian Mackinnon, Chief Executive Officer Tel: +44 (0)1823 662241Peter Houston, Group Finance Director Tel: +44 (0)1823 662241 Blue Oar Securities plc:Barrie Newton Tel: +44 (0)1225 424666Mike Coe Tel: +44 (0)117 933 0020 Swallowfield plc: "Creating and Delivering Solutions for our Customers' Success" Notes to Editors: Swallowfield formulates, manufactures and packages fine quality household goods,toiletries and cosmetics across the whole spectrum of consumer markets for ownlabel and brand names. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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