Trading Statement
February 04 2009 - 2:00AM
UK Regulatory
TIDMMCHL
RNS Number : 7239M
Mouchel Group plc
04 February 2009
4 February 2009
MOUCHEL GROUP PLC
Half Year Trading Update
Mouchel Group plc, the consulting and business services group, today reports on
trading for the six months ended 31 January 2009.
The Group remains on track to deliver performance in line with the Board's
expectations for the year ending 31 July 2009.
General economic conditions remain challenging, but our continuing focus on the
provision of essential services and the management of vital infrastructure means
that demand for our services remains buoyant. As a result, we are well placed to
weather the current recession.
We have previously reported on the challenges facing us in the UK rail sector
and in the Middle East and these continue, particularly in the UAE where funding
pressures have now resulted in a slowdown both in activity and collection of
receivables.
However, we are benefiting increasingly from the combined capability arising
from the HBS and Hedra acquisitions, particularly pursuing new outsourcing deals
and assignments which help to transform services for existing clients. AMP5
opportunities are arising in the UK water sector. In addition, the Government's
"fiscal stimulus" is benefiting our activities in several markets,
particularly highways.
We continue to enjoy an exceptionally strong order book and bidding pipeline,
with the value of both standing at around GBP2 billion at the period end,
including significant opportunities in all three of our businesses - Government
Services, Regulated Industries and Highways. The combination of our continued
financial strength and visibility of future earnings leaves us well positioned
for future growth.
Richard Cuthbert, Chief Executive of Mouchel, commented: "Once again we have
experienced a period of strong performance, with most of our markets remaining
in good health. We have taken, and will continue to take, the steps that we feel
are necessary to ensure that the Group has the right cost base, both for now and
for the future. Whilst no company is immune to the current downturn, our
strategy of focusing on long term contracts and relationships, working
predominantly in the UK public sector is standing us in good stead."
The Group will announce its interim results for the six months ended 31 January
2009 on Tuesday 31 March 2009.
Contacts:
Mouchel
Richard Cuthbert, Chief Executive 01483 731731
Kevin Young, Group Finance Director01483 731731
Finsbury
Mike Smith 020 7251 3801
Charles Watenphul020 7251 3801
This information is provided by RNS
The company news service from the London Stock Exchange
END
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