TIDMPKW 
 
RNS Number : 8031C 
Parkwood Holdings PLC 
19 November 2009 
 

Parkwood Holdings plc 
("Parkwood" or the "Group") 
Interim Management Statement 
19 November 2009 
 
 
Parkwood, the specialist support service group, issues the following Interim 
Management 
Statement covering the period 1 July 2009 to date. 
 
 
Trading performance for the Group in the period since 1 July 2009 has benefitted 
from the usual improvement in activity levels at this time of year although the 
general economic environment remains challenging. 
 
 
The Group's Leisure Division is trading in line with the budget for the year 
which anticipated a substantial increase in profit compared to the previous year 
due to an increase in revenue from new contracts. 
 
 
Glendale, the Group's green services division, continues to find trading 
difficult primarily as a result of weak demand, particularly in horticulture, 
golf and countryside. Glendale is currently undergoing a restructuring of the 
business in order to reduce overheads and improve efficiency. On 16 October 2009 
Glendale acquired the equity interest of its joint venture partner in the Verdia 
business, which manufactures horticultural compost products. The total 
consideration was GBP0.35 million, including the repayment of the joint venture 
partner's loan. 
 
 
Bristol City Council have now received final funding approval for a PFI project 
to build a GBP23 million leisure centre and have signed a binding memorandum of 
understanding with Parkwood Project Management. Financial close is expected to 
occur in the first quarter of 2010. 
 
 
Earlier today Parkwood announced the proposed disposal of its equity and 
subordinated debt investments in the leisure related special purpose companies 
which will result in a net cash inflow of GBP4 million. The proceeds will be 
used to reduce the Group's borrowings and the disposal will also reduce the 
Group's overall level of gearing. The Group has also renegotiated its banking 
facilities for the next 12 months. 
 
 
The Group's order book was GBP508 million at 31 October 2009 (30 June 2009: 
GBP500 million). 
For further information, please contact: 
Tony Hewitt / Mike Quayle  01772 627111 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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