SLINGSBY (H.C.) PLC — Earnings Release 2013

Feb 10, 2014

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RNS Number : 6305Z

Slingsby(H.C.)Plc

10 February 2014

H C SLINGSBY PLC ("Slingsby" or the "Company" or the "Group")

Trading statement

In the Chairman's statement accompanying the interim results for the six months ended 30 June 2013, issued on 20 September 2013, the Chairman stated:

"The Company has not experienced any significant upturn in the level of trading in the second half and if this trend continues for the remainder of the year, the Directors believe the Company will incur a pre-tax loss for the year."

As a result of further difficult and variable trading in the second half of the year the board now expects that the company will incur a pre-tax loss substantially in excess of its previous expectations for the year ended 31 December 2013

Current trading remains challenging and increasing price pressures continue to suppress order revenues.

However order volumes are encouraging and we are taking active steps to re-align our costs with an evolving customer base.

Our balance sheet and cash position remains strong. The Board believes that in spite of the difficult market conditions the recent implementation of our new IT infrastructure will place the Company in a stronger position to leverage our substantial key account base. 

John Waterhouse

Non-Executive Chairman

10 February 2014

For further information, please contact:

H C Slingsby PLC	Tel:  01274 535 030
Dominic Slingsby, Managing Director Ray Hudson, Financial Director
Sanlam Securities UK Limited	Tel:  020 7628 2200
David Worlidge

This information is provided by RNS

The company news service from the London Stock Exchange

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