Pre-Close Trading Update

RNS Number : 0684X

Tanfield Group PLC

09 February 2012

 



9 February 2012

TANFIELD GROUP PLC ("Tanfield" or the "Company")

Pre-Close Trading Update

Tanfield Group Plc, the leading manufacturer of aerial work platforms, is providing the following trading update prior to entering the close period ahead of its preliminary results for the financial year ending 31 December 2011, which Tanfield expects to announce in April 2012.

As anticipated in the Interim Results, trading for the second half of 2011 was similar to that of the first half.  The Company's order book continued to grow as order intake significantly outstripped monthly shipment revenues.  Equipment lead times extended as the growth rate was managed to ensure the company optimised the use of its working capital.  Net cash at 31 December 2011 was £3.4 million (31 December 2010: £3.6m).

Darren Kell, CEO of The Tanfield Group Plc, said: "Global demand for aerial work platforms continues to build, driven by fleet replacement at major rental operators.  The Company is examining  ways that will allow it to respond to that increased global demand and to reduce its lead times accordingly."

Further information:

Tanfield Group plc                                                                                          0845 155 7755

Darren Kell / Charles Brooks

Westhouse Securities Limited (NOMAD and broker)

James Steel                                                                                                        020 7012 2000

Buchanan Communications   Charles Ryland / Nicola Cronk / Catherine Breen	020 7466 5000

ENDS

 

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