29th Apr 2005 13:07
Reliance Security Group PLC29 April 2005 29 April 2005 Reliance Security Group plc ("Reliance") Trading update The Directors of Reliance are pleased to provide an update, prior to thecommencement of the close period, on the Group's trading performance andprospects. The Directors expect that trading results for the year to 29 April 2005 will beslightly ahead of market expectations. Organic cash generation has continued to be strong in the second half of thisyear and has been boosted by the net cash proceeds of approximately £7.3 millionarising on the disposal, in December, of the Group's investment in Safe Estates.This disposal will give rise to an untaxed, exceptional profit of £4.3 million. The termination of the electronic monitoring contract in England on 30 April2005 and the disposal of the Group's interest in Safe Estates last December willclearly impact on the Group's trading result next year. However, solid progresscontinues to be made in securing new business opportunities and our forwardorder book remains healthy. We are continuing to invest to drive future growth. Reliance's results for the year to 29 April 2005 will be announced on 30 June2005. Note: Reliance is an established market leader in the provision of contract security,facilities management and support services and in business process outsourcing.Reliance employs over 12,000 people from a network of offices throughout the UK. Enquiries: Brian Kingham 020 7730 9916Chairman Neil French 01895 205002Group Finance Director This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Resolute Mining