Interim Management Statement


 

TIDMPKW 
 
RNS Number : 9739V 
Parkwood Holdings PLC 
10 November 2010 
 

 
 
Parkwood Holdings plc 
                          ("Parkwood" or the "Group") 
                          Interim Management Statement 
                                10 November 2010 
 
Parkwood, the specialist support service group, issues the following Interim 
Management Statement covering the period from 1 July 2010 to date. 
 
Group trading in the third quarter to 30 September was in line with 
expectations. Parkwood Leisure continued to grow its revenue and profit and the 
core Glendale business produced a more stable performance.  Focus remains on 
reducing the losses within the Golf, Recycling and Horticulture businesses with 
various restructuring and disposal options under consideration. 
 
Having repaid all its bank loans in the first half of the year, the Group 
continued to enjoy positive cash balances for most of the period. The Group's 
cash flow forecasts indicate that the current level of overdraft facility will 
continue to be sufficient to meet the Group's working capital requirement. The 
directors do not foresee any requirement for term loan facilities in the 
foreseeable future. 
 
The Group's current order book is GBP499 million, compared to GBP518 million as 
at 30 June 2010. The number of tender opportunities has increased although 
margins remain under pressure as local authorities address their budgetary 
pressures. 
 
 
For further information, please contact Tony Hewitt or Mike Quayle on 01772 
627111. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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