SEO Stanelco

 

TIDMSEO 
 
RNS Number : 0884R 
Stanelco PLC 
24 April 2009 
 

24 April 2009 
 
 
Stanelco plc ("the Company" or "the Group") 
 
 
Interim Management Statement 
 
 
Stanelco plc, which is holding its 2009 Annual General Meeting at 10.30am today, 
issues its interim management statement for the period from 1 January 2009 to 23 
April 2009, as required by the UK Listing Authority's Disclosure and 
Transparency Rules. 
 
 
The 2009 financial year has started well and trading during the first quarter to 
31 March 2009 was in line with the Board's expectations. 
 
 
In the quarter the Group achieved double digit revenue growth in sales of 
bioplastics made directly by the Company. The Group also achieved double digit 
growth in its RF Applications division as we continued to broaden our RF product 
offering. 
 
 
A slightly slower start to the year led to third party sales from our joint 
venture, Biotec, being 2% down in the quarter compared with the same period last 
year.However by the end of the quarter sales had returned to previous levels and 
are now showing an upward trend. 
 
 
Overall, Group revenues increased in the quarter to GBP3.5m (Q1 2008: GBP3.4m). 
 
 
We continue to work closely with our customer base in the BioPlastics division, 
carefully developing products that will meet their specific requirements and 
will, in time, be suitable for volume commercialisation. The wide experience of 
the technical team we have put in place and the close support of the pilot 
facility in Southampton are proving invaluable in this respect. 
 
 
In the RF Applications division, where our main focus has been on widening our 
product range, we have received a number of orders in the quarter for products 
introduced last year for the induction heating market and continue to see 
significant interest in our range of furnaces, particularly from customers in 
the Far East. 
 
 
The Board's focus for this year continues to be on cash control and generating 
profitability from our operations. At 31 March 2009 we had cash of GBP5.5m and 
we continue to consider sensible investment opportunities to accelerate our 
growth. 
 
 
 
- Ends - 
 
 
For further information please contact: 
 
 
+-----------------------------------------+------------------------------+ 
| Paul Mines, Chief Executive, Stanelco   | Tel: +44 (0) 2380 867100     | 
| plc                                     |                              | 
| Sue Bygrave, Group Finance Director,    |                              | 
| Stanelco plc                            |                              | 
|                                         |                              | 
+-----------------------------------------+------------------------------+ 
| Jonathon Brill/Caroline Stewart,        | Tel: +44 (0) 20 7831 3113    | 
| Financial Dynamics                      |                              | 
+-----------------------------------------+------------------------------+ 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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