Universal Salvage PLC
16 August 2000
UNIVERSAL SALVAGE PLC
Universal Salvage manages the disposal of vehicle salvage for third parties on
a contract basis and is the UK's largest vehicle salvage company.
Alexander Foster, Chairman of Universal Salvage plc ('Universal'), speaking at
the Company's Annual General Meeting today, commented,
'On behalf of the Board, I am pleased to report that trading during the first
three months of the new financial year is in line with expectations and
the remainder of the year continues to look encouraging.
We continue to focus on improving our operational efficiency and enhancing the
service we offer motor insurers as well as vehicle repairers/dismantlers, who
comprise our auction customers.
The Company's financial and trading position has revived strongly over the
last 18 months and the Board considers that Universal's recovery has firm
foundations. As we continue to increase the services we offer, we believe
that our business has the potential to grow substantially over the medium
term. In addition, our evolving e-commerce strategy represents new business
I look forward to reporting on the Company's trading progress at the half year
when we announce our interim figures in December, and updating shareholders on
the development of Universal's service offering at the full year'.
Universal Salvage plc Martin Hynes, Chief Executive T: 020 7464 4280
Biddick Associates Katie Tzouliadis T: 020 7464 4280