7th Feb 2008 10:32
Cinpart PLC07 February 2008 7 February 2008 Cinpart Plc ("Cinpart" or the "Company") Trading Update Cinpart Plc, a manufacturer and worldwide distributor of gas appliance ignitionsystems, is pleased to advise that it expects its results for the year ended 31December 2007 to exceed the expectations in the broker's estimate. The Companyexpects to report profit after tax of not less than £85,000 in comparison to thebroker's forecast for profit after tax of £24,000 for the year ended 31 December2007. The Company has experienced a modest increase in revenue for the year ended 31December 2007 brought about by continued strong demand from the existingcustomer base whilst also experiencing costs savings from the reorganisation ofthe Company and cost rationalisation programme implemented by new management,which included the closure of warehousing operations in the United Kingdom ("UK") and arranging for major customers to deal directly with the factory inThailand, saving UK import and distributions costs. Also, the Company has successfully completed two capital projects being theestablishment of a circuit board production facility and the purchase of two 45ton precision stamping machines, which has allowed for more efficient productionin Thailand. The resultant cost savings, together with the now completedreorganisation of the Company, has significantly reduced costs within theCompany. Contact Kevin Baker - Cinpart Plc + 662 709 2647 Graeme Thom/Jonathan Evans - Zimmerman Adams International Limited 020 7060 1760 Stephen Goschalk - Newland Stockbrokers 020 7290 2414 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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