Grafenia plc AGM Statement (3277G)
August 05 2016 - 2:00AM
UK Regulatory
TIDMGRA
RNS Number : 3277G
Grafenia plc
05 August 2016
GRAFENIA PLC
AGM TRADING STATEMENT
Peter Gunning, the CEO of Grafenia plc (AIM: GRA), will make the
following trading update at the Annual General Meeting (AGM) to be
held at the Company's offices at Focal Point, Third Avenue, The
Village, Trafford Park, Manchester M17 1FG at 10.00am today.
Trading Update
In our preliminary results announcement on 8 June 2016, we
stated that trading conditions were challenging, albeit ahead of
last year. Since the EU referendum we have experienced lower sales
across all of our business channels. Whilst we expect lower sales
in summer months, in line with usual seasonality, July performed
below budget and behind the same period last year. It is difficult
to forecast whether current short term economic uncertainty will
continue into our busiest months in the second half and we
therefore remain cautious on the outlook.
Since our last update, encouragingly we have continued to add
new Nettl partners and now have over 65 locations with completed
agreements. Despite the economic conditions, we still have a strong
pipeline of potential new Nettl and printing.com studio partners.
Both Nettl and printing.com are available under simple subscription
agreements with Nettl centred around enabling partners to sell more
web and printing.com being a suite of software and marketing
collateral to sell more print and this is proving attractive to
potential partners.
Marqetspace, our trade print channel, has successfully completed
a website upgrade and continues to attract new graphic professional
clients and be a source of future Nettl and printing.com
partners.
Discussions with potential international partners to exploit the
Nettl formula in other territories are ongoing.
Overall, whilst we remain cautious about the outlook,
particularly with the uncertainty about the economic backdrop
following the EU referendum, we are seeing positive signs as we
attract more trade partners with our new initiatives.
For further information:
Grafenia plc
Peter Gunning (Chief Executive) 07973 191 632
Alan Roberts (Finance
Director) 0161 848 5713
N+1 Singer (Nominated
Adviser)
Richard Lindley / James
White 0207 496 3000
This information is provided by RNS
The company news service from the London Stock Exchange
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