RNS Number:9964S
Gibbs & Dandy PLC
24 April 2008


                              Gibbs and Dandy plc


                          Interim Management Statement


Gibbs and Dandy plc ('the Group') today issues its interim management statement
for the period from 1 January 2008 to 24 April 2008.


Group revenues for the period 1 January 2008 to 18 April 2008 were 2.3% above
that achieved in the equivalent period in 2007. Like for like sales over the
period were broadly similar to last year, which excludes the impact of our new
branch at Market Harborough acquired in June 2007. The comparative period had
the same number of working days.


Whilst trading was uneven over the period, we were pleased to see that gross
margins were maintained at last year's levels. We believe the timing of Easter
this year has made it difficult to compare activity over recent weeks.


There are undoubtedly some cost pressures in the sector, but we continue to keep
a tight control over our expenditure. We are working hard to improve our share
in a tougher market place by focusing on customer service as a means to
differentiate ourselves from our competitors.


Cash generation remains strong, with �1.4m generated from operations over the
first three months (Q1 2007:�2.2 million). As a result, our net cash balance has
grown since the end of 2007 and at the end of March stood at �2.9 million.


The new branch at Market Harborough has traded in line with our expectations and
the project to build a new warehouse at our Kettering branch commenced in
February. This is expected to be completed in the summer and will enable this
branch to improve its heavyside product offering to customers.


On 15 February 2008, an announcement was released that the Board was in early
stage discussions which may or may not lead to an offer for the entire issued
share capital of the Company. These discussions are progressing and a further
announcement will be made in due course.


Enquiries:

Gibbs and Dandy plc
Michael Dandy Managing Director )
Amitabh Sharma Finance Director ) 01582 798 798

Panmure Gordon
Andrew Godber 020 7614 8385








                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
IMSVXLFLVZBFBBV
Gibbs & Dandy (LSE:GDYO)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Gibbs & Dandy Charts.
Gibbs & Dandy (LSE:GDYO)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Gibbs & Dandy Charts.