Information  X 
Enter a valid email address

Yorkshire Group PLC (YOR)

  Print      Mail a friend

Thursday 19 December, 2002

Yorkshire Group PLC

Trading Statement

Yorkshire Group PLC
19 December 2002

                       Yorkshire Group plc  ('Yorkshire')

                              Strategy update

The Board of Yorkshire, the specialist dyes and chemicals group, reported very
difficult trading conditions in its interim report dated 3 September 2002
together with an aim of achieving group profitability some time in 2003.

The Board has recently completed its review of the Group's budget for 2003 in
the light of continuing depressed trading conditions throughout the world and
now expects that a return to group profitability will take longer than
previously expected.

Against this background, and in the context of the Group's high level of debt,
the Board has now concluded that it should defer its global growth strategy for
the time being.  Instead, a substantial reduction in the Group's level of debt
has become the Board's immediate priority.  In accordance with this, the Group
has commenced an active and aggressive strategy of asset realisations.

This change in strategy is likely to have a knock-on effect on the results to be
reported for the year ending 31 December 2002 as a result of, inter alia, a
review of asset carrying values.

The Board anticipates updating shareholders with progress in this asset
realisation strategy at the time of the preliminary announcement of its results
for the year ended 31 December 2002.

19 December 2002

For further information contact:

Andrew J Dick, Chief Executive
Cathy E Baxandall, Company Secretary
Tel: 0113 244 3111

                      This information is provided by RNS
            The company news service from the London Stock Exchange