Havelock Europa PLC
06 February 2006
HAVELOCK EUROPA PLC
Havelock, the Education, Interiors and Point of Sale group, proposes to announce
its results for the year ended 31 December 2005 on Tuesday 4 April 2006. The
Board expects these results to show a fourth successive annual increase in
underlying profit and to be in line with market expectations.
The Retail Interiors Division finished the year strongly with a result which
will demonstrate the effect of the significant repositioning of its activities
over the last two years. Point of Sale also traded better than expected and
improved its result, with the first benefits of the integration of the Bristol
and Letchworth sites coming through in the last quarter. The level of business
in the Group's education activities remained static but, as expected, profit was
lower, reflecting a temporary lull in PFI school refurbishment schemes and a
build up of additional costs in preparation for 2006/7.
2006 has started with firm order books across all of the Group's Divisions. A
significant upturn in the level of business in the education sector is
anticipated. The Group expects to be involved in some 15 PFI projects in 2006,
for which letters of intent or orders have already been received for 12, mainly
for delivery in the second half of the year. The Group's initial entry into the
healthcare market has fared well and further growth is expected in this new
sector during 2006.
With many of the Group's retail and financial services customers demonstrating
strong performances in 2005, the Group expects another good year in both Point
of Sale and Retail Interiors. Nevertheless, as in the past, it is anticipated
that the great majority of the Group's profit will be earned in the second half
of the year.
Accordingly, Havelock remains on track with its plan to develop higher growth
and more profitable businesses and views 2006 with enthusiasm.
Havelock Europa PLC 01383-820 044
Hew Balfour (Chief Executive) 07801-683 851
Grant Findlay (Finance Director) 07768-745 960
Bankside Consultants Limited
Charles Ponsonby 020-7367 8851
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