LTS Litho Supplies

 

TIDMLTS 
 
RNS Number : 8050N 
Litho Supplies PLC 
24 February 2009 
 

Litho Supplies Plc 
("Litho Supplies" or the "Company") 
Trading Statement 
The Company provided an update to the market on trading on 19th November 2008 
and highlighted the ongoing 
 difficulties being encountered within the 
printing industry. 
During 2008, the board has undertaken significant steps to reorganise the 
business and reduce operating costs. The restructuring of the business was 
designed and implemented in anticipation of a challenging trading environment. 
In light of ongoing market conditions, these steps have continued in into 2009. 
The board continues to review overheads and will respond as appropriate to 
market developments. 
At the end of 2008, the board decided that it was appropriate to exit the 
digital printing market which formed part of the electronics division. As a 
result of this decision the Company has incurred a one-off write down on 
inventories, which will contribute to full-year 2008 losses. 
Group turnover for the year ended 31st December 2008 is expected to be in the 
region of GBP48.5m. As a result of the challenging trading environment, together 
with substantial additional reorganisation costs, the Company now expects to 
report a loss for the year greater than market expectations. 
As a result of steps taken to restructure the business, annual operating costs 
have been reduced by GBP1.1m. The board anticipates making further substantial 
cost savings in 2009. 
In these unprecedented prevailing market conditions, current trading remains 
very challenging. The board is focused on identifying further cost savings and 
exploring ways to return the business to profitability. Your board continues to 
have constructive discussions with its bankers to increase its facilities, which 
have been maintained at their prior levels, within which the Company has 
continued to operate. 
The indications within the industry are that the Company is maintaining market 
share and the board is continuing to develop new technologies with new and 
existing suppliers. 
Further updates will be provided in due course. 
For further information please contact: 
Michael Hammond, Chief Executive, Litho Supplies PlcTel 01332 873921 
Andrew Raca, Blaine Tatum, Blue Oar Securities Plc  Tel 020 7448 4400 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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