GAR Garner

 
TIDMGAR 
 
27 November 2009 
 
                                  Garner Plc 
 
                           ("Garner" or the "Group") 
 
                               Trading Statement 
 
In the announcement of the interim results to 30 June 2009 on 30 September 
2009, the Group noted that trading in the first twelve months following the 
acquisition of Norman Broadbent will be worse than Garner could have originally 
anticipated. This was the result of the rapid and unexpected deterioration in 
the economy at the start of this year. The Group also announced that working 
capital had been severely squeezed as a result of the fallen revenues. 
 
The Board is pleased to report that trading conditions have improved in the 
second half, the order book for the first quarter of 2010 has grown and Norman 
Broadbent has won `preferred provider' status with several major FTSE 
companies. In addition, the cost cutting undertaken in the first half has 
resulted in the Group being able to trade profitably on a monthly basis, with 
the further benefit that cash outflows experienced earlier this year have been 
stemmed in recent months. 
 
Despite this recent improvement, the Group's working capital position remains 
severely constrained. The Group is negotiating the payment of significant Crown 
liabilities and the raising of additional funding to fulfil this requirement 
remains a matter of priority for the Group. 
 
The Group will continue to update shareholders as to its situation as 
appropriate. 
 
For further information, please contact: 
 
Andrew Garner, Chairman    Garner Plc                             020 7629 8822 
 
Lindsay Mair, Antony Legge Dowgate Capital Advisors               020 7448 4400 
 
 
 
END 
 

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