RNS Announcement



Trading Update

 

Metalrax Group PLC (the "Group"), the niche supplier of Specialist Engineering and Consumer Durable products, today provides an update on trading prior to the release of its results on 2 4  March 2010 for the year ended 31 December 2009.

 

In 2009, the Group made good progress in the turnaround of the ongoing businesses, implemented a significant cost reduction programme and secured £23.7m of debt finance for the next three years, providing a strong footing for the future. The second half of 2009 will show the Group being profitable (at an operating level) and borrowings below those reported in the 2009 Interim R eport .

 

T he  d irectors anticipate that the Group's performance  pre exceptional items  for the full year ended 31 December 2009 will be slightly ahead of market expectations.

Cash flow from operations continues to be positive and  management has  continued to make good progress in reducing net debt, which has consistently  been  lower than anticipated.

Outlook

The general trend in late 2009 together with an improving macro economic background confirms  the  directors'  view that the  Company's core  market s  ha ve  begun to  stabilis e  and gives us confidence that the actions taken by the  management  in 2009 leave  the Group  well placed to benefit during 2010 .

For further information:

Metalrax Group PLC
Andrew Richardson, Chief Executive	0121 433 8961
Arden Partners  plc
Steve Douglas	0121 423 8900
Matthew Armitt	020 7614 5924

 

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