Trading Update
March 22 2004 - 11:29AM
UK Regulatory
RNS Number:8022W
Bright Futures Group PLC
22 March 2004
Bright Futures Group PLC ("Bright Futures" or the "Group")
Trading Update: Sale of non-core assets
Bright Futures announces that on the 19 March 2002 it completed the disposal of
assets valued at #69,318 from it's wholly owned subsidiary, Scootermart Ltd, to
its management team. Scootermart Ltd is a small direct sales business, selling
Mobility Scooters in Essex, which for the last audited period, the year ended 31
December 2002, made a loss of #26,710.
Bright Futures believes that the sale of these assets and subsequent closure of
Scootermart Ltd, will further simplify the Group and enable it to concentrate on
the core retail store opening programme. The sale was completed for a
consideration of #74,820, #35,000 of which is payable within three weeks with
the balance paid in due course.
Since the announcement on 10 September 2003 of the launch of the Bright Futures
store opening programme, the Group has now opened an additional three stores in
Leeds, Bolton and Kidderminster. Having reviewed these stores initial
performance, Bright Futures now plans to open an additional four stores by the
end of July 2004, subject to the successful and timely completion of the current
pipeline of property negotiations. Once complete, these openings will have
increased the Group's non-franchised estate from 6 stores to 13 stores within 12
months.
Contact Details:
Stephen Harpin
ChiefExecutive Officer
Bright Futures Group PLC 01902 866 166
Notes:
1. Scootermart Ltd is a direct sales company selling mobility scooters to
customers in Essex. It was 100% owned by the Mobility Group, a subsidiary of
Bright Futures Group.
2. Bright Futures Group PLC's is the holding company for The Mobility group and
Youreable.com. Bright Futures Stores trade as Scootermart Mobility Centres.
This information isprovided by RNS
The company news service from the London Stock Exchange
END
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