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Trading Update

27th May 2008 07:00

RNS Number : 2437V
SMC Group Plc
27 May 2008
 



27th May 2008

SMC Group Plc ("SMC" or "the Company" or "the Group")

Trading update

The Board of SMC Group Plc is pleased to announce that Group trading continues to be robust with a stronger order book than at the same stage of the year in 2007, coupled with an improved conversion rate of order book into revenue and EBITDA.

Actions to rationalise the business and to make further cost savings over and above those arising from the review in 2007 continue to progress well and a full report will be given in the Group's interim results announcement in September 2008. As part of this process, the Group is close to agreeing improved terms with its principle bankers, HBOS.

The Group continues to win new business and in the last 2 months, the Group has won commissions with total estimated fees of in excess of £8m, including:

Retail and Mixed Use developments in China, Malaysia and Singapore
Criminal Justice Centre in East Midlands
Oil Company HQ Buildings - Scotland
New Secondary School - Central Scotland
Mixed Use Masterplans in Manchester, Croydon, S London
Affordable and Private Residential projects - Scotland and England and Hyderabad
Police Station - Cornwall
Industrial Park - East Anglia
Flight Simulation Training Centre - Sussex
HM Government Communications Centre Office - Milton Keynes

The Group's new commissions represent a mix of private and public sector clients and continue to demonstrate the Group's exposure and experience in a wide and balanced portfolio of work.

Outside of the UK, management is pleased with the growth generated in Asia and the scale of new commissions and development opportunities, both in the existing office locations of Singapore, Shanghai and Beijing and also in Malaysia and India. We have doubled our number of staff in these locations during the last 12 months in response to the expanding order book and high quality of work being delivered.

The Board confirms that the AGM for SMC Group Plc will be held at 10am on 25 June 2008 in Room 33, The Royal Horticultural Centre, Greycoat Street, London SW1P 2QD. Tel. 0207 821 3634. The notice of the AGM and a copy of the Group's annual report for the year ended 31 December 2007 is expected to be posted to shareholders on 2 June 2008.

Ends

For further information:

SMC Group Plc Tel: +44 (0)20 7580 0400

Chris Littlemore/Rob Boardman

Numis Securities Limited Tel: +44 (0)20 7260 1000

Stuart Skinner/Brent Nabbs/James Serjeant

Financial Dynamics Tel: +44 (0)20 7831 3113

Jonathon Brill/Billy Clegg/Caroline Stewart/Annie Evangeli

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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