QS Group PLC
10 April 2002
QS GROUP PLC
('QS' or 'the Company')
On 10th September 2001 the Board announced that the Company was in discussions
which may or may not lead to an offer being made for the Company. The Board has
now terminated these discussions as it believes shareholder value can be
maximized over the medium term through the operation of the business.
In parallel with those discussions, the Board recognized the need to radically
review and improve our product offer. As a result, since November 2001 the
company has enjoyed improved trading. After a 2.5% like for like increase in the
fourth quarter to January 2002, like for like sales in the first ten weeks of
the current financial year were up 5.5%. Sales also show an increase of 14% over
the equivalent Easter weeks last year. Gross margin has increased significantly
over the first ten weeks of the current financial year.
The Company retains a strong balance sheet with its freehold properties and with
positive cash balances running consistently higher than a year ago.
Neil Wanstall, Chief Executive
Eric Holes, Finance Director 01273 874 444
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