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Friday 04 October, 2013


Trading Update

Trading Update
4th October 2013

API Group plc
("API" or the "Group")
Trading Update

API Group plc (AIM:API), the leading manufacturer of specialist foils and packaging materials, is today providing an update on trading ahead of its interim results which are scheduled to be announced on Tuesday 3rd December 2013.

The Board's most recent guidance, provided at the time of the AGM on 11 July 2013, remains unchanged overall.  Full year results are still expected to show progress over the previous year despite first half trading having been weaker than anticipated and very strong comparables at the interim stage last year.  

API Laminates has made good progress in relation to the new supply contract and continuation of current off-take levels underpins the outlook for the second half.

Major operational improvement projects are close to completion at Foils Americas and Foils Europe; albeit at the expense of some business disruption during the transition phase.  Increased operational effectiveness and lower costs, combined with robust levels of demand are expected to benefit results going forward.  

Holographics has shown little improvement on the trading performance experienced in the second half of last year, with a recovery in sales to other Group companies offset by reduced activity with external customers.  Nevertheless, longer term prospects have been enhanced by new equipment successfully brought on stream to extend the product offering to the security sector and good progress has been made in establishing a new holographic origination centre in the Czech Republic as a platform for innovation in optical technologies.

The Group is close to finalising new long term credit facilities for the UK businesses, ahead of the scheduled expiry of current arrangements.  Further details will be provided at the interim results stage.

- Ends -

For further information:

API Group plc
Andrew Turner, Group Chief ExecutiveTel: +44 (0) 1625 650 334
Chris Smith, Group Finance

Numis Securities (Broker)
James SerjeantTel: +44 (0) 20 7260 1000

Cairn Financial Advisers (Nominated Adviser)
Tony Rawlinson / Avi RobinsonTel: +44 (0) 20 7148 7900

Media enquiries:

Henry Harrison-Topham / Quincy AllanTel: +44 (0) 20 7398 7710
[email protected]

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: API Group PLC via Thomson Reuters ONE


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