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You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


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Havelock Europa PLC (HVE)

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Friday 24 June, 2005

Havelock Europa PLC

AGM Statement

Havelock Europa PLC
24 June 2005

                              HAVELOCK EUROPA PLC
                                 AGM STATEMENT

                           Group on target to deliver
                         further good progress in 2005

At this afternoon's AGM of Havelock Europa, the educational furniture and
supply, point of sale display and retail interiors group, the Chairman, Malcolm
Gourlay, made the following remarks with regard to current trading and

'Trading for the first six months of the year is expected to be in line with
budget, with a sound performance from Point of Sale Display, an improved
contribution from the Retail Interiors Division and a somewhat slower than
anticipated period for sales in the 'direct to schools' sector of education

Within the Point of Sale Display Division our investment programme continues. A
new high volume digital printing press is being installed at Hartcliffe, in
Bristol. This will confer significant advantages in the production of point of
sale ticketing, both for our customers and ourselves, in terms of speed and
collation, once it has been commissioned in the autumn.

In the Retail Interiors Division, the level of activity has been strong, despite
the reported slow down in the High Street. A particularly high level of
enquiries has been received from the financial services sector. The prospects
for this business are likely to continue to improve throughout this year as a
result of a successful diversification of the customer base and the recent entry
into the healthcare and accommodation services markets.

Whilst PFI sub-contractor business will show an improvement in overall activity
this year, ESA McIntosh, the UK market leader in science laboratories and fitted
furniture for schools, has started the year more slowly than expected. Despite a
brisk level of enquiries from Local Authorities and direct from schools, the
volume of actual orders to date has been slower than last year, in that sector
of the market. After a particularly slack period around the time of the General
and Local Elections, orders and enquiries have picked up sharply in the last few
weeks. We are confident that this improvement will continue.

TeacherBoards, which was acquired last June, has made a strong start to the year
with business for the first five months ahead of budget.

Clean Air, acquired last July, has had a more modest start to the year, stemming
largely from the slower than anticipated activity in the schools refurbishment
market, outlined before.

The Group has continued to strengthen its senior management team and, over the
next quarter, it is intended to consolidate further the synergies available
between education, healthcare and retail interiors, with a reapportionment of
responsibilities. This restructuring is expected to produce an optimal use of
the Group's assets as well as providing improved customer service and a launch
pad for the further significant growth expected over the next two years.

The Interim Results for 2005 will be the first financial statements prepared in
accordance with International Financial Reporting Standards. The key differences
between UKGAAP and IFRS were outlined in the 2004 annual report. The requirement
under IFRS to recognise revenue after installation will result in timing
differences in the recognition of revenue on education supply and fit contracts
and this will increase the seasonal bias towards the second half of the year.

The Board remains optimistic about the growth opportunities in the markets in
which it is active. The rate of progress towards financial close of a series of
PFI contracts, in the education and healthcare sectors, is now in line with
expectation following the adjustments made after the withdrawal of Jarvis from
the sector. The Board anticipates further overall progress in the full year,
with significant growth in 2006 and 2007 in the education and healthcare PFI
sectors. In addition, the Group will continue to study opportunities for
appropriate acquisitions in these two markets.'


Havelock Europa PLC                                              01383-820 044
Hew Balfour (Chief Executive)
Graham MacSporran (Finance Director)

Bankside Consultants Limited
Charles Ponsonby                                                 020-7367 8851

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

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