Pre-close trading update
December 19 2008 - 2:00AM
UK Regulatory
RNS Number : 4165K
Walker (Thomas) PLC
19 December 2008
Date: 19th December 2008
Embargoed: 7.00am
Thomas Walker plc
("Thomas Walker" or "the Company")
Pre-close trading update
Thomas Walker PLC is today providing an update on current trading to shareholders, before entering into its closed period ahead of the
results announcement for the half year ending 31st December 2008.
Conditions in the wider economic environment have been very difficult, with low confidence and lack of available credit hampering
business and consumer spending. The Group's operations have not been immune from these issues which, combined with the effects of falling
Sterling, have had a major effect on the overall first half performance.
However, clothing accessories and I.D. products within Thomas Walker UK Ltd and Thomas Walker SEA Ltd have achieved a satisfactory first
half year with sales holding up well, although profitability has been adversely impacted by the weakness of Sterling.
TW Stampings Ltd has been more affected by the economic slowdown in the short term with reduced order intake and a slow build up from
new customers and products. In light of this environment, the Board has decided to delay the proposed investment in new CNC machining
capacity. As a short term measure existing plant has been re-tasked to carry out the work on new products, for which some orders have
already been received and for which the new plant is ultimately intended.
In the last few weeks new TW Stampings Ltd business has started to come through and at the close of the first half TW Stampings Ltd
orders stand at �978,000 (2007: �687,000); this new business will have no effect on the first half but will impact the second half of this
financial year and the following year.
Enquiries:
Bill Good, Group Managing Director
Mobile: 07790 742 316 Katie Dale
John Lomer, Group Finance Director Colin Smith Tel: 0121 384 9743
Mobile: 07778 889 977 Tel: 0121 423 8940 Mobile: 07918 716 754
Thomas Walker plc Arden Partners plc Golley Slater
This information is provided by RNS
The company news service from the London Stock Exchange
END
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