Trading Statement

RNS Number : 8402J

Airea PLC

10 December 2008

 

AIREA plc ('AIREA' or 'the Group')
10 December 2008
Trading update

Since AIREA released its annual results on 29 September 2008, there has been a deterioration in market conditions. In the meantime, significant steps have been taken to streamline the manufacturing operations and control costs.  The Board believes that these measures will mean that the Group is well placed when market conditions improve.

However, as the Board is not yet able to predict when this improvement in market conditions will take place, they have reduced their expectations for the remainder of the financial year significantly. Despite the improvements in manufacturing efficiency and the reduction in costs, the Board now anticipate that the Group will report an operating loss for both the half year to 31 December 2008 and the full year to 30 June 2009.

In view of the above situation, the Board does not intend to declare an interim dividend for the year ending 30 June 2009.  The Board will keep the situation under review and will make a decision about whether to recommend a final dividend later in the year.

For further information please contact:

AIREA plc

Neil Rylance                                    Chief Executive Officer                                                              01924-266561
Kevin Henry                                    Group Finance Director                                                             01924-266561

Brewin Dolphin Investment Banking

Andrew Kitchingman                       Managing Director - Corporate Finance                                    0845-2134730
Sean Wyndham-Quin                      Assistant Director - Corporate Finance                                      0845-2134747

ENDS

 

END

 

 

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