Interim Management Statement

    RNS Number : 4376I
  Litho Supplies PLC
  19 November 2008
   

    LITHO SUPPLIES Plc ("Litho Supplies" or the "Company")
    Interim Management Statement
    19 November 2008
    As previously announced we have highlighted the difficulties being encountered within the printing industry as a result of the
considerable uncertainties in the economy and financial markets.  The board has been determined to respond to these challenges and undertake
appropriate restructuring within our business. The restructuring programme has continued throughout 2008.   
    Our central administration and accounting functions were all successfully relocated from Bristol to the Head Office in Breaston at the
end of September when Simon Wellings was appointed as our new Finance Director.  The new computer system is now fully operational at all the
branches of our consumables business.
    Further restructuring has been undertaken to improve services to customers including  concentrating the ink mixing service centrally in
Dewsbury. 
    Andersons (our wide format ink jet business) and Graphic Arts Equipment Limited which were previously acquired have been fully
integrated into the group and continue to perform in line with management's expectations in what is a difficult market. The management team
continues to work on developing synergy benefits and cross selling opportunities within these businesses for the benefit of the group as a
whole
    We have previously reported that the impact of our reorganisation will involve the business incurring significant additional costs this
financial year but will enable us to start 2009 with a cost base reduced by more than �1m compared with 2008.
    As a result of the economic downturn and reduced level of activity we estimate that turnover for the second half of the year will be
slightly lower than for the first half. In addition the business has experienced higher levels of bad debts than anticipated.  We therefore
expect that the Company will make a loss before restructuring costs for the full year. 
    Although current trading is challenging, the board has taken significant steps to reorganise the business and reduce costs. As a
consequence, the Company is better positioned to withstand current economic conditions and respond positively to business opportunities. 

     For further information please contact:
    Michael Hammond, Chief Executive, Litho Supplies Plc         Tel 01332 873921
    Andrew Raca, Simon Moynagh, Blue Oar Securities Plc         Tel 0207 448 4400



This information is provided by RNS
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