Fiske PLC Result of AGM (9024O)
September 25 2013 - 9:53AM
UK Regulatory
TIDMFKE
RNS Number : 9024O
Fiske PLC
25 September 2013
25 September 2013
Fiske Plc ('Fiske' or 'the Company')
Result of AGM
Fiske Plc (the 'Company') announces that at the AGM held today
all the resolutions were duly passed.
Speaking at the AGM, Clive Harrison, the Company's Chairman and
Chief Executive, said the following:
"It is now some six weeks since I wrote the Chairman's Statement
that was sent out to all shareholders. Not a lot has changed since
then that would give us any guide as to the likely direction of
markets or of the short term outlook for our business. The timing
of the tapering of quantitative easing remains uncertain. In plain
English we don't know when the Fed will stop printing money except
it is not yet. From a market point of view that is a major
uncertainty. So is the state of the Eurozone. Everything there
seems to be on hold until the German policies become clear now that
their election is over and the result is as expected.
The massive unemployment in the Eurozone, concentrated in the
Mediterranean countries, is an unsustainable social problem that
needs to be solved urgently and yet it is not even being addressed.
Lastly China. There is a property bubble and a banking crisis in
the making. There is vast over capacity in many sectors of the
economy and inflation is a growing and obvious problem. The degree
of complacency in the West as well as the reliance on questionable
data never ceases to amaze me. China is a problem and too many
people forget the Japanese bubble of the late 1980's followed by 23
years of semi recession.
The first quarter of our current financial year has been
modestly profitable, in spite of the fairly lacklustre markets;
especially in terms of volume. As I have stated in the past we
don't believe in forecasts in our business but perhaps it would be
fair to say that we are cautiously optimistic."
For further information please contact:
Gerard Luchini, Fiske Plc - Compliance Officer
(tel: 020 7448 4700)
Salmaan Khawaja/ David Hignell, Grant Thornton UK LLP (Nominated
Adviser)
(tel: 020 7383 5100)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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