Trading Update
January 29 2008 - 2:00AM
UK Regulatory
RNS Number:6921M
Eleco PLC
29 January 2008
For Immediate Release 29 January 2008
Eleco plc
Trading Update
The Board of Eleco has approved the following trading statement:
"I informed shareholders on 15 November 2007, that trading continued to progress
well in the second quarter. It is therefore pleasing to report that despite
weaker demand for our connector plate products because of the widely reported
reduction in housing activity in the UK and the Republic of Ireland, turnover
and profit before tax of the Group as a whole for the six months to 31 December
2007 will be significantly higher than for the same period last year.
"Eleco's offsite construction products and software continue successfully to
address market needs and remained in strong demand in the period. As a
consequence, the order books of our Building Systems businesses exhibited
continued growth in the period to the end of December.
"Milbury Systems was acquired on 22 November 2007 and I am confident that it
will play an increasingly important role in the progress of our precast concrete
interests.
"I note the current turmoil in financial markets and the need to exercise an
increased degree of prudence in the conduct of our businesses in this uncertain
economic climate. Nevertheless, I remain confident that Eleco will continue to
progress in the second half-year, having regard in particular to the strength of
our order books and our strong financial position.
"The interim report for the six months ended 31 December 2007, including the
condensed financial statements prepared for the first time under IFRS, will be
released on 18 March 2008"
This trading statement will be sent to shareholders of Eleco today.
For further information please contact:
Eleco plc Tel: 01920 443 830
John Ketteley, Executive Chairman http://www.eleco.com
john.ketteley@eleco.com
David Dannhauser, Finance Director
david.dannhauser@eleco.com
Collins Stewart Europe Limited 020 7523 8350
Nick Ellis / Philip Roe
Buchanan Communications 020 7466 5000
Tim Anderson / Isabel Podda
This information is provided by RNS
The company news service from the London Stock Exchange
END
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