09 April 2008
AGM and Interim Management Statement
At today's Annual General Meeting of Low & Bonar PLC, the international technical textiles and contract flooring manufacturer, Duncan Clegg, Chairman, will announce the following statement to shareholders. This constitutes the Group's first Interim Management Statement, covering the period from 1 December 2007 to 9 April 2008, as required by the UK Listing Authority's Disclosure and Transparency Rules.
"At the time of our full year results published on 18 February 2008 we commented that the start of our new financial year had been in line with our expectations, and this has continued to be the case.
Our recent acquisitions, MTX and Westbond, both joined the Group in early January. Our integration plans are on track and both businesses are trading as expected.
The breadth of our product range and our geographic spread give us confidence in continued progress in both Divisions in the current financial year and beyond."
| Low & Bonar plc |
+44 (0) 20 7535 3180 |
| Paul Forman, Chief Executive |
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| Kevin Higginson, Finance Director |
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| Hogarth Partnership Limited |
+44 (0) 20 7357 9477 |
| Rachel Hirst/Andrew Jaques/Ian Payne |
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This Interim Management Statement contains certain forward-looking statements which have been made by the Directors in good faith using information available up until the date they approved the Statement. Forward-looking statements should be regarded with caution because of the inherent uncertainties in economic trends and business risks.
NOTE TO EDITORS:
Low and Bonar is a world leading technical textiles and contract flooring manufacturer, operating from over 20 sites in 9 countries. The Group is quoted on the London Stock Exchange and is committed to delivering shareholder value through a strategy of organic and acquisitive growth. Recent acquisitions include the acquisitions of Mehler Texnologies (MTX), the German-based manufacturer of technically coated fabrics, and Westbond, the specialist UK producer of fusion-bonded carpet tiles.
Low & Bonar comprises two divisions: Technical Textiles and Contract Flooring . The key characteristics of its businesses are that they manufacture added-value products based on advanced technology and address markets with strong growth potential. Many of Low & Bonar's products are leaders in their niche markets.