Trading Statement

Expro International Group PLC 18 November 2003 18 November 2003 EXPRO INTERNATIONAL GROUP PLC ("Expro" or "the Group") Trading Comment The Board wishes to update shareholders on developments in market conditions and the Group's trading performance since the pre-close Trading update for the half year to 30 September 2003 made on 29 September 2003. Weak trading conditions in Asia and the Americas, which account for almost one third of Expro's business, have deteriorated further in the second half of the year. The recent review of the business undertaken by the new Chief Executive, has confirmed that these sustained weak markets are now likely to impact negatively the full year trading performance and reported earnings per share for the Group. Given the originally anticipated second half weighting to the Group's full year results in the current financial year, this is likely to result in the Group achieving results, for the financial year ending 31 March 2004, which are materially below current consensus market expectations. The weakness of the markets in the Americas in particular has a geared effect on the overall results, due to the likely impact on the Group tax charge. The impact of this change is to increase the likely effective tax rate for the Group from 33% to 43.4% for the full year. In the first half, whilst the operating profit performance will be broadly in line with consensus market expectations, the impact of this higher effective tax rate will result in a lower than anticipated earnings per share for the period. Significant changes have been put in place to align our business to regions with material and sustainable growth potential. In the context of the existing market conditions, this process has been accelerated and implementation is underway to address our underperforming segments while building a platform for sustaining growth for all markets. The board will update shareholders in full on the current initiatives in the business, the trading performance in the first half and the outlook for the remainder of the year on the 3rd December 2003. - Ends - For further information please contact: Expro International Group PLC 0118 9591 341 Graeme Coutts, Chief Executive Weber Shandwick Square Mile 020 7067 0700 Tim Jackaman/Mike Kirk/Rachel Taylor This information is provided by RNS The company news service from the London Stock Exchange
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