Armour Group PLC
17 September 2007
Armour Group plc ('Armour' or the 'Group')
Armour is pleased to announce that it expects profits before interest, tax and
exceptional items for the year ended 31 August 2007 to exceed market
expectations. Underlying basic earnings per share for the year ended 31 August
2007 are also expected to be ahead of the current market expectations of 4.6p.
Both the core product based operating divisions, Armour Home and Armour
Automotive, have made strong progress in the year.
The preliminary announcement of the results for the year ended 31 August 2007
will be made on 6 November 2007.
Sale of Business
Armour announces the sale of its custom installation services business, Armour
Custom Services, to its management team. This business provides installation
services for home theatre and entertainment systems to house builders and home
owners. This business, which represents less than 5% of the Group's annual
turnover, has been loss making in the last 2 years and is not core to Armour's
fast growing and highly successful branded product businesses in the home and
The disposal generated a net £0.4 million cash inflow and will result in an
exceptional loss of approximately £2.7 million in the financial year ended 31
August 2007, the majority of which is represented by the write off of goodwill.
Extension of Trading Agreement with Lenbrook Corporation
The Group is pleased to announce an extension of the trading agreement announced
on 3 January 2007 with the Lenbrook Corporation of Toronto, Canada (
www.lenbrook.com). Lenbrook America, a subsidiary of Lenbrook Corporation, has
been appointed as the exclusive distributor of Armour's award winning range of
QED cables and interconnects (www.qed.co.uk) in the USA. Lenbrook will sell QED
alongside its world-renowned brands of NAD electronics (www.nadelectronics.com)
and PSB speakers (www.psbspeakers.com). The official launch by Lenbrook America
of QED in the USA was at the CEDIA US trade exhibition in Denver in the first
week of September.
Armour, through its Armour Home division, was appointed by Lenbrook on 1 March
2007 as its exclusive distributor in the UK for its NAD and PSB brands.
Launch of In-car Bluetooth Handsfree Phone Kits
Armour's automotive division, Armour Automotive, launched at the recent IFA
consumer electronics show its range of in-car Bluetooth music streaming and
handsfree mobile phone kits under a new brand, IO (www.my-io.com). The IO range,
which will include five products, has been designed to deliver class leading
functionality at all of the key market price points. The design and development
of the IO product range has been led by our own in-house research and development
teams in conjunction with specialist third party technology partners. The
initial response from major customers that have seen the products demonstrated
has been very positive. The first three IO products will be available for sale at
the beginning of November.
17 September 2007
George Dexter Armour Group PLC Tel: 01892 502700
Richard Kauffer KBC Peel Hunt Tel: 020 7418 8900
Trevor Bass Threadneedle Communications Tel: 020 7936 9666
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