Hampson Industries PLC Trading Update (8239G)
03 7월 2012 - 11:00PM
UK Regulatory
TIDMHAMP
RNS Number : 8239G
Hampson Industries PLC
03 July 2012
3 July 2012
Hampson Industries PLC
("Hampson" or "the Company", and together with its subsidiaries,
"the Group")
Trading update
In the announcement dated 6 June 2012, it was stated that,
although the assessment of strategic options was ongoing, the Board
considered that it was becoming clear that there was a material
risk that there will be little or no remaining value for existing
shareholders. Since then, the Company has been preparing a revised
business plan as part of that strategic review. Shareholders should
be aware that this plan will reflect worsening trading conditions
for the Group's tooling activities, which therefore increases that
material risk.
While the Group's tooling businesses remain profitable, the
relatively low level of new programme awards, on which this
division mainly depends, in conjunction with the perceived
uncertainty associated with the Group, means that trading in that
division is challenging.
The division continues to make deliveries against the Group's
largest tooling order, on which, as previously announced, issues
were identified during the testing and customer approval process.
Hampson is constructively engaged with the customer at senior
management level to resolve the issues.
Furthermore, the proposed sale of the BHW unit is no longer
being pursued, owing to significant production rescheduling by a
key customer and the decision by another customer to retain in
house activities which it had planned to outsource to BHW.
Operational changes are being identified at BHW to reduce the
impact of BHW's performance on the Group.
The Group's overall results for the current year are expected to
be materially impacted by these trading issues.
As noted in the announcement dated 27 June 2012, the Board of
Hampson continues to review and assess the strategic options
available to the Group and the formal sale process continues. The
Group's results for the year ended 31 March 2012 are expected to be
announced on 31 July 2012.
The Group is in discussions with its lenders who continue to be
supportive whilst the Group explores its strategic options.
Further announcements will be made as appropriate.
Enquiries:
M:Communications
Ann-marie Wilkinson / Maria Souvorov +44 207 920 2330
Notes to editors:
Hampson is listed on the main market of the London Stock
Exchange (Symbol: HAMP). For more information on Hampson:
www.hampsongroup.com
A copy of this announcement will be available at
www.hampsongroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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