20th Dec 2005 07:00
BBA Group PLC20 December 2005 Trading Statement - December 20th 2005 BBA Group Plc today issues its regular trading statement ahead of its annualresults for the year ending 31st December 2005 which will be announced on the28th February 2006. In our Aviation division, as anticipated, trading has remained strong in thesecond half of 2005 with continued sales growth over the prior year. For theyear as a whole we expect a significant increase in operating profits andimproved operating margins over the prior period. We are announcing today thatwe have recently added 2 locations to our Signature network in the US and arefinalising agreements to add another 2 locations in the next few weeks. We areworking on a number of further acquisition opportunities to accelerate growth inall areas of our Aviation business. The separation of Fiberweb from the BBA Group which was announced on the 2ndNovember is well under way. We are in discussions with a number of interestedparties regarding the potential sale of Fiberweb. In Fiberweb, sales in thesecond half of the year are expected to be ahead of the prior period althoughoperating profits have been adversely impacted by a temporary spike in rawmaterial costs which peaked in October, mostly associated with the effect of thehurricanes in the southern states of the US. As anticipated our free cash flow has improved in the second half and wecurrently expect to exceed the £60M generated in 2004. Commenting on the Trading Statement Roy McGlone Chief Executive said: "The process to separate Fiberweb is going well with interest from a number ofparties. Our Aviation businesses continue to perform strongly and we are workingon a wide range of opportunities to accelerate growth as we become a focusedAviation Services business in the early part of 2006". Enquiries: Roy McGlone, Chief Executive 020 7514 3999Andrew Wood, Finance Director 020 7514 3999BBA GROUP PLC Mike Smith 020 7404 5959Lucie Anne Brailsford 020 7404 5959BRUNSWICK This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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