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Haynes Publishing (HYNS)

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Friday 01 June, 2018

Haynes Publishing

Trading Statement

RNS Number : 9101P
Haynes Publishing Group PLC
01 June 2018
 

 

Haynes Publishing Group P.L.C.

 

2018 Trading Update

 

 

Haynes Publishing Group ("Haynes" or "the Group") is pleased to announce a trading update for the financial year ended 31 May 2018.

The Group is on target to report adjusted profit before tax (excluding adjusting items and acquired intangible amortisation) up c. 10% from the prior year and ahead of current market forecasts by c. 7% for the year ended 31 May 2018.

The net impact of adjusting items is expected to increase reported profit before tax by c. £0.6 million to leave the Group approximately 30% ahead of the prior year.

As reported at the interim results in January, the changes to the US federal tax rate will reduce the US net deferred tax assets and liabilities by c. £0.8 million. Therefore, Group profit after tax and adjusting items will be c. 5% lower than the prior year.

The Group will be announcing its full year results for the financial year ended 31 May 2018 on 5 September 2018.

 

Eddie Bell, Group Chairman, said:

"I am pleased to report that the Group's performance is tracking ahead of market forecasts.

Our focus remains on the delivery of content, data and solutions for our local and global partners. To maintain the current momentum, Haynes will continue to invest in our people and technology to ensure we provide reliable, accurate and valuable information."

                      

 

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

 

 

 

 

 

 

 

 

 

 

 

 

Enquiries:

 

Haynes Publishing Group P.L.C.                                        +44 1963 442009

E Bell, Group Chairman

J Haynes, Chief Executive Officer                             

 

Investor Contact: Panmure Gordon (UK) Limited            +44 20 7886 2500

James Stearns                                                          

 

Media Contact: New Century Media                                  +44 20 7930 8033

Catherine Hems         


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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