Brammer PLC - Chairman's AGM Statement
May 25 1999 - 8:00AM
UK Regulatory
RNS No 7849k
BRAMMER PLC
25 May 1999
BRAMMER
CHAIRMAN'S AGM TRADING STATEMENT
At the annual general meeting today, the Chairman made the following
statement to shareholders:
" In March, when I reported to you on our 1998 performance, I said that there
were early signs that the UK economy may have bottomed. That remains the
case but as yet we see no evidence of any upturn in industrial activity. Our
UK businesses are down on the first four months of 1998 but much in line with
the second half of that year.
"In continental Europe our distribution businesses are generally experiencing
markets slightly softer than at this time last year but, we continue to grow
at a moderate rate.
"Our Livingston Group continues to expand quickly. We have today announced
the acquisition of the commercial calibration division of Tektronix Espana
and our appointment as Authorised Service Provider to both Tektronix and its
Spanish customers. Livingston sales are well ahead of last year and are
particularly strong in Germany. Recent outsourcing contracts to manage the
test and measurement inventories - for Thomson-CSF across France and KPN
Telecom throughout Holland - will build gradually as we engage the various
operating sites. However, the first half contribution will be minimal.
"Despite continuing difficult conditions in the UK and the strengthening
pound we expect profits in the first half to 30 June 1999 to be around the
same level as the second half of 1998."
Enquiries: Brammer plc 0161-928 3363
Robert Ffoulkes-Jones, Chairman
Ian Fraser, Chief executive
Issued by: Citigate Dewe Rogerson 0171-638 9571
Martin Jackson / Duncan Murray
END
CAGBEFFLKEKLBKD
Brammer (LSE:BRAM)
Historical Stock Chart
From Jun 2024 to Jul 2024
Brammer (LSE:BRAM)
Historical Stock Chart
From Jul 2023 to Jul 2024