PKW Parkwood Hldgs.

 

TIDMPKW 
 
RNS Number : 5857M 
Parkwood Holdings PLC 
02 February 2009 
 

Parkwood Holdings plc 
 
 
('Parkwood' or 'the Group') 
 
 
Trading Statement 
 
 
2 February 2009 
 
 
Parkwood Holdings plc, the public sector support services business, announces 
that its Preliminary Results for the year ended 31 December 2008 will be 
released on 9 March 2009. 
 
 
The revenue and performance of the Group's Leisure Division and the core Grounds 
Management and 'countryside' activities within Glendale, the green services 
division, have remained strong. The Group's forward order book stands at GBP517 
million (2007: GBP532 million). 
 
 
However, as the Board informed shareholders at the time of the Interim Results 
announcement in September, trading conditions within other parts of the Glendale 
Division have been difficult, particularly in golf management and horticulture. 
These businesses have suffered from weak customer demand, especially in the 
second half of the year. As a result, the Board expects that full year results 
from continuing operations before exceptional items, goodwill impairment and 
amortisation will be below market expectations but should be at least GBP2.3m. 
 
 
The Glendale Division has been reorganised in the second half of 2008 to create 
five separate trading companies covering grounds management, golf, horticulture, 
recycling and 'countryside' activities including arboriculture and landscaping. 
This new structure became fully operational on 1st January 2009 and will provide 
an improved focus on performance. 
 
 
The Board considers that this new structure together with the continuing 
strength of the Leisure Division and the public sector customer base provides a 
sound platform for improved performance in 2009 against a difficult economic 
background. 
 
 
Tony Hewitt, Executive Chairman, commented: 
 
 
"The difficulties within the Glendale Division have overshadowed the strong 
performance within the Leisure Division during the year. The restructuring of 
the Glendale Division has been completed in time for the start of the new year 
and I remain confident that profitability will improve within the Division in 
2009." 
 
 
For further information please contact: 
 
 
    Tony Hewitt, Executive Chairman                            01772 627 111 
    Terry Bowman, Group Finance Director                       01772 627 111 
    Neil Baldwin, Brewin Dolphin Investment Banking Ltd.      0113 240 0126 
 
 
 
 
Notes to editors: 
About Parkwood Holdings plc: 
Parkwood Holdings plc specialises in providing outsourced and support services, 
predominantly to the public sector across England and Wales under long term 
contracts. Its four main areas of operation are as follows: 
 
Glendale 
Provides amenity horticulture, grass cutting, arboriculture and care of sports 
pitches, parks and open spaces. The division also includes golf course 
management, waste recycling, environmental consultancy, tree moving and 
horticulture. 
 
Parkwood Leisure 
Manages a diverse range of public and private leisure facilities, including 
swimming pools, sports halls, gyms, health suites and catering operations. 
 
Project Management 
Undertakes PFI, PPP and similar bids on behalf of joint ventures and the Group. 
Parkwood Project Management is also responsible for project management of 
contracts and the management of other funds such as the lifecycle funds 
associated with the project agreements. 
 
Healthcare 
A nursing agency and an ambulance and patient transport business, Parkwood 
Healthcare is expanding its operations from London and the South East into other 
parts of England and Wales, dealing both with the NHS and the private sector. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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