11th Jan 2005 07:32
Charles Taylor Consulting PLC11 January 2005 Charles Taylor Consulting Trading Update Ahead of entering its close period, the Board of Charles Taylor Consultingprovides the following trading update. 2004 Trading The Board anticipates trading performance for 2004 to be in line with consensusexpectations. 2005 Prospects Prospects for 2005 will be impacted by our expectations of continuingweakness in the US dollar. ManagementProspects for our mutuals remain positive however results will beaffected by increased servicing costs both in the United States and elsewhere. ServicesThe impact of the hurricanes in the United States combined with the recenttragic events in Asia is likely to prolong the current hard insurance market.Consequently we expect claim levels to remain constant into 2005. FinanceThe full year effect of the interest rate rises during 2004 in the UnitedKingdom will be felt by the group in 2005. Overall borrowing for 2005 isexpected to be in line with 2004 after allowing for debt repayments during 2004and the deferred consideration in connection with the acquisition of BCL to bepaid in early 2005. Charles Taylor will be announcing its preliminary results for the year ended 31December 2004 on 11 March 2005. END This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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