Trading Update

Actif Group PLC 07 August 2002 7 August 2002 Actif Group plc Trading update At the time of the interim results announced by the Company in April this year, the Chairman reported that good progress had been made towards increasing both sales and margins and in pursuing its strategy of improving returns from its core Elle brand. In light of this he expressed his optimism for the outcome for the year. The Company has continued to pursue this strategy and is confident that its normalised results for the year ended 3 August 2002 would have exceeded market expectations of a profit before tax of approximately £500,000. The Board is disappointed to announce, however, that this years results will be affected by the recent administration order made against the Designer Room Limited, which ran concessions selling the Company's merchandise. At the time of going into administration, Designer Room owed the Company approximately £250,000 and the recovery of this money is uncertain. Designer Room also held stock that was owned by Actif Group, which has now been recovered. The full amount due from Designer Room will be provided for in the final results. Despite this setback, the Company is in a much stronger position financially than 12 months ago, with net debt reduced by approximately £1m and gearing now approaching 50%, compared to 90% at last year end. Mark Evans, Chief Executive of Actif Group comments: 'Despite this setback I am satisfied that the Company has succeeded in achieving its goals for the year, reducing net debt, increasing turnover and contribution, whilst continuing the development of the Elle brand. The Board is optimistic that the Company will continue to develop in line with management's expectations and believes that the market's expectations for the financial year to July 2003 remain realistic.' Enquiries: Mark Evans, Chief Executive, Actif Group plc Tel: 020 7436 3330 Julian Ghinn, Finance Director Tel: 020 7462 8810 Piers Hooper, Hudson Sandler Tel: 020 7796 4133 This information is provided by RNS The company news service from the London Stock Exchange
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