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Autins Group PLC (AUTG)

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Friday 29 March, 2019

Autins Group PLC

AGM Statement

RNS Number : 3867U
Autins Group PLC
29 March 2019
 

29 March 2019

Autins Group plc

(the "Company" or the "Group")

 

AGM Statement

 

Autins Group plc (AIM: AUTG), a leading designer, manufacturer and supplier of acoustic and thermal insulation solutions for the automotive sector, will hold its Annual General Meeting today at the offices of Freeths LLP, 3rd Floor, The Colmore Row Building, Colmore Circus, Queensway, Birmingham commencing at 4:00pm, where the Group's Chairman, Adam Attwood, will provide the following statement:

 

"FY2018 was a challenging year that ultimately led to a disappointing financial performance for the Group.  FY2019 will be a year of positive momentum for Autins.  Gareth Kaminski-Cook has brought renewed stability and energy to the senior management team and that is underpinned by the launch, in November 2018, of the Autins' Values; the Group's six core shared principles for driving and developing the business. 

 

"Our cost base was reduced at the beginning of FY2019 to reflect short term demand from our key customers, yet despite market uncertainties our financial performance for FY2019 is currently in line with management expectations.  We expect continued sales improvement for our Neptune product and will continue to focus on customer diversification through development of our overseas operations and our Tier 1 supplier relationships.

 

"The Board remains confident in our strategy and the considerable market opportunity for the Group.

 

"The Company will release interim results for the six months ending 31 March 2019 in June 2019."

 

For further information please contact:

 

Autins Group plc

Adam Attwood, Non-Executive Chairman

Gareth Kaminski-Cook, Chief Executive

James Larner, Chief Financial Officer

 

 

Via Newgate

N+1 Singer

(Nominated Adviser and Broker)

Mark Taylor / Lauren Kettle (Corporate Finance)

Mia Gardner (Corporate Broking)

 

Tel: 020 7496 3000

Newgate Communications

(Financial PR)

Adam Lloyd

Tom Carnegie

 

 

Tel: 020 7653 9850

 

About Autins

Autins specialises in the design, manufacture and supply of acoustic and thermal insulation solutions primarily in the automotive sector but with an increasing focus on other sectors, including flooring, building and wider industrial applications.

 

The Group is one of the leading suppliers of noise and heat management products in the automotive market, producing and supplying over two million parts per month to customers including some of the world's leading vehicle manufacturers.

 

 

 


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