Yorkshire Group PLC
1 May 2002
AGM TRADING UPDATE
The Chairman of Yorkshire Group plc, Pat Barrett, made the following statement
to the Annual General Meeting of the Company on 1 May, 2002.
'I concluded my statement in the 2001 Report and Accounts by commenting that if
the market does remain steady, we should see a modest improvement in results but
this is not anticipated before the second half of 2002.
During the first quarter of the current financial year, as expected, there was
no recovery in trading conditions, but neither was there any further noticeable
decline by comparison with the latter months of 2001. In the short period since
Easter, sales have shown a modest improvement which is encouraging and with the
Americas business showing the better recovery.
The Asia Pacific business is developing in line with expectations. The next
milestone in the group's expansion plan for the region is the opening of the
sales and technical office in Taiwan during this month.
The new European management team, appointed at the beginning of the year,
continues to focus upon the major task of restructuring their loss making
business, the benefits of which are not expected to become apparent until the
second half of 2002. The Americas business has remained profitable during the
1 May, 2002
Andrew Dick, Chief Executive Patrick Toyne-Sewell
Martin Towers, Finance Director Seb Hoyle
Yorkshire Group plc Citigate Dewe Rogerson
Tel: 0113 244 3111 Tel: 020 7638 9571
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