Trading Statement
January 07 2004 - 2:00AM
UK Regulatory
RNS Number:9132T
Swallowfield PLC
07 January 2004
Trading Update
Swallowfield plc announces that several significant customers have delayed
orders from December 2003 into the first quarter of this calendar year. This,
together with relatively weak background trading across toiletries and cosmetics
in the run up to Christmas, will result in a trading performance in our first
half weaker than at the same point last year. Importantly, we expect our trading
performance for the full year to be broadly in line with current market
expectations as we anticipate making up the delayed volumes in the second half.
Although sales are below last year's levels, we have achieved an improvement in
gross margins. Net debt levels are lower following reductions in working capital
and expenditure on fixed assets and net debt will be below current market
expectations at the end of the first half.
Enquiries:
Tony Wardell, Chief Executive, 01823 662241
Barrie Newton, Rowan Dartington & Co. Limited, 0117 933 0000
This information is provided by RNS
The company news service from the London Stock Exchange
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