Information  X 
Enter a valid email address

Weeks Group PLC (~156)

  Print      Mail a friend

Wednesday 02 April, 2003

Weeks Group PLC

Trading Statement

Weeks Group PLC
02 April 2003

THE WEEKS GROUP PLC ('Weeks' or the 'Company')

2 April 2003



Trading Statement



The Company provides the following trading statement in advance of its results
for the year ended 31 March 2003:



The Group announces that its profits for the period ended 31 March 2003 are
expected to be below current market expectations.  Whilst turnover for the year
is expected to be approximately 10% ahead of that of last year, gross margins
have declined as a result of a hardening of the construction market and the
shortage of technical staff, which has led to the increased need for the use of
more expensive subcontracted staff.  In addition to the continued investment in
support systems across the business as described in the Group's interim
statement dated 3 December 2002, non-recurring costs have also been incurred in
the later part of the year in relation to a reorganisation of part of the
business which led to senior management redundancies.



The Group's working capital position continues to be satisfactory and the
current order book remains healthy.  The Board expects to propose a final
dividend for the year ended 31 March 2003 in line with its stated dividend
policy.





For further information contact:



The WEEKS Group plc
Phillip Hill                                         Tel:  01732 778690




Teather & Greenwood Limited
Jeff Keating                                         Tel:  020 7426 9000
David Galan                                          Tel:  020 7426 9000




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