RNS No 7890a
METALRAX GROUP PLC
25 May 1999
 
PROFIT INCREASE FOR METALRAX GROUP IN FIRST QUARTER
 
   The following statement was made by Mr Eric Moore, chairman of Metalrax
Group PLC, the engineering specialists, at the annual general meeting in
Birmingham today.
 
   "It is pleasing to report that pre-tax profit for the first quarter shows
an increase compared with the same period last year, and there were
corresponding cash flow improvements.
 
   "Last month we announced the acquisition of RTA Wine Rack Company Limited
for a maximum consideration of #3.5 million. This will extend the product
range and customer base of the group's housewares division in home and
overseas markets.
 
    "Our growth aspirations are supported by continuing plans to widen the
spread of products and services being offered to customers. The substantial
financial resources available to us for this purpose will be invested in
further strategic acquisitions".
 
   Metalrax Group PLC, which in mid-March reported another pre-tax profit
rise to a record #14.11m, operates three divisions - precision components,
housewares, and storage and handling equipment.
 
   Contact: Mr Eric Moore, Chairman, Telephone: 0121-433 3444
 
END

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