MRX Metalrax Group

 

TIDMMRX 
 
RNS Number : 9500F 
Metalrax Group PLC 
22 January 2010 
 

Trading Update 
 
Metalrax Group PLC (the "Group"), the niche supplier of Specialist Engineering 
and Consumer Durable products, today provides an update on trading prior to the 
release of its results on 24 March 2010 for the year ended 31 December 2009. 
 
In 2009, the Group made good progress in the turnaround of the ongoing 
businesses, implemented a significant cost reduction programme and secured 
GBP23.7m of debt finance for the next three years, providing a strong footing 
for the future. The second half of 2009 will show the Group being profitable (at 
an operating level) and borrowings below those reported in the 2009 Interim 
Report. 
 
The directors anticipate that the Group's performance pre exceptional items for 
the full year ended 31 December 2009 will be slightly ahead of market 
expectations. 
 
 
Cash flow from operations continues to be positive and management has continued 
to make good progress in reducing net debt, which has consistently been lower 
than anticipated. 
 
 
Outlook 
The general trend in late 2009 together with an improving macro economic 
background confirms the directors' view that the Company's core markets have 
begun to stabilise and gives us confidence that the actions taken by the 
management in 2009 leave the Group well placed to benefit during 2010. 
 
 
For further information: 
 
 
+------------------------------------+-----------------------------------+ 
| Metalrax Group PLC                 |                                   | 
+------------------------------------+-----------------------------------+ 
| Andrew Richardson, Chief Executive | 0121 433 8961                     | 
+------------------------------------+-----------------------------------+ 
|                                    |                                   | 
+------------------------------------+-----------------------------------+ 
| Arden Partners plc                 |                                   | 
+------------------------------------+-----------------------------------+ 
| Steve Douglas                      | 0121 423 8900                     | 
+------------------------------------+-----------------------------------+ 
| Matthew Armitt                     | 020 7614 5924                     | 
+------------------------------------+-----------------------------------+ 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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