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Press Releases
21 Apr 04
The Chairman of Low & Bonar PLC, Duncan Clegg, will make the following statement at today’s Annual General Meeting:
“The start of the financial year has seen the Group continue its steady improvement across all three business activities, building on the progress of 2003. Bonar Floors will benefit materially in 2005 onwards from the recently announced MoD contract, worth £30 million in sales over 3 years, and Bonar Tiles – now trading under the name of Tessera – remains in line with our expectations. Our Yarns & Fabrics Division has seen ongoing improvement in terms of both sales and profits at the Dundee and Belgian operations. Bonar Plastics is also seeing progress in Europe although the North American business continues to encounter tough market conditions allied to high raw material prices.
The pattern of our earnings growth remains at present one of progress through volume–based market share gain and cost reduction action rather than of underlying market growth or significant pricing increases. Raw material input costs are generally less challenging than they were in the first half of 2003. We continue to be satisfied with the progress being made and trading remains in line with our expectations.
Enquiries:
AGM Trading Statement 21st April 2004
The Chairman of Low & Bonar PLC, Duncan Clegg, will make the following statement at today’s Annual General Meeting:
“The start of the financial year has seen the Group continue its steady improvement across all three business activities, building on the progress of 2003. Bonar Floors will benefit materially in 2005 onwards from the recently announced MoD contract, worth £30 million in sales over 3 years, and Bonar Tiles – now trading under the name of Tessera – remains in line with our expectations. Our Yarns & Fabrics Division has seen ongoing improvement in terms of both sales and profits at the Dundee and Belgian operations. Bonar Plastics is also seeing progress in Europe although the North American business continues to encounter tough market conditions allied to high raw material prices.
The pattern of our earnings growth remains at present one of progress through volume–based market share gain and cost reduction action rather than of underlying market growth or significant pricing increases. Raw material input costs are generally less challenging than they were in the first half of 2003. We continue to be satisfied with the progress being made and trading remains in line with our expectations.
Enquiries:
| Duncan Clegg, Chairman | ||
| Jon Kempster, Finance Director | ||
| Low & Bonar PLC | Tel: 020 7298 6820 | |
| Alexia Latham | ||
| Tulchan Communications | Tel: 020 7353 4200 |