Trading Update

RNS Number : 4399Z

Leeds Group PLC

17 May 2019

 

Leeds Group plc

("Leeds Group" or the "Group")

Trading Update

Leeds Group wishes to update the market on its expectations for the financial year ending 31 May 2019.

As announced on 25 March 2019, the Group's operating subsidiaries have found the market conditions very challenging with increased competition in a reduced market. Unfortunately, the market conditions have deteriorated further since March 2019 and the Board now expects the Group's revised expectations for the current financial year to be significantly below last year. Working capital remains adequate.

In light of these difficult trading conditions, the Board has requested each trading subsidiary to implement further programme of cost reductions and efficiency savings, which will not have an effect on the current years trading result, with the objective of returning the Group to acceptable profit levels in the next financial year.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (MAR) and has been arranged for release by Jan G Holmstrom, Chairman.

Enquiries:

Leeds Group plc                                                    

Dawn Henderson - 07747 777055

Cairn Financial Advisers LLP

Tony Rawlinson / Liam Murray - 020 7213 0880

 

END

 

 

TSTARMBTMBJBBIL