Swallowfield PLC AGM Statement (3925H)
November 15 2018 - 2:00AM
UK Regulatory
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RNS Number : 3925H
Swallowfield PLC
15 November 2018
15 November 2018
Swallowfield plc
("Swallowfield" or the "Group")
AGM Statement
Swallowfield plc, a market leader in the development,
formulation, and supply of personal care and beauty products,
including its own portfolio of brands, will be holding its Annual
General Meeting at 12 noon today. At the meeting, Brendan Hynes,
Non-Executive Chairman, will make the following statement:
"The Group's trading in the first four months of the year is in
line with expectations.
We continue to see strong momentum in our Brands business, which
is benefitting from another year of sales growth in Christmas
gifting ranges.
Our Manufacturing business remains challenging, consistent with
our experience in H2 FY18, with a general softening in demand due
to the current retail environment and low consumer confidence.
Mitigating actions which were highlighted in the final results
announced in September, including price increases and cost base
optimisation, are being implemented and are expected to have a
positive impact in the second half of the current financial year.
Volumes generated by the three previously announced new contract
wins are also making a positive contribution.
While we are conscious of the continuing macro uncertainty both
in the UK and internationally, overall we expect to maintain our
positive progress and are well positioned to deliver against our
expectations for the full year."
For further information please contact:
Swallowfield plc
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01823 662
Tim Perman Chief Executive Officer 241
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01823 662
Matthew Gazzard Group Finance Director 241
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Mark Taylor / Jen Boorer N+1 Singer 020 7496 3000
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Josh Royston / Sam Modlin Alma PR 020 3405 0206
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Note: This announcement contains inside information for the
purposes of Article 7 of Regulation 596/2014 (MAR).
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END
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