ACR Abbeycrest

TIDMACR

RNS Number : 4231K

Abbeycrest PLC

15 July 2011

Abbeycrest plc

("Abbeycrest" or the "Group")

Interim Management Statement

Abbeycrest plc (LSE: ACR), a leading international jewellery designer and manufacturer, today provides an update on business performance for the period from 1 March 2011 to 14 July 2011.

Whilst the Group made a satisfactory start to the current financial year, its recovery has been further impeded in recent weeks by difficult trading conditions, including continuing rising precious metal prices and retailer action to protect volumes.

In May 2011, the Board agreed revised and extended facilities with its lenders in the UK and Thailand. However, due to the factors outlined above, the Group now needs to extend these existing facilities further or reduce the Group's peak working capital funding requirement by approximately GBP0.7m in October 2011. The Board is currently reviewing the options available to the Group.

For further information, please contact:

 
 Abbeycrest plc                                Tel: 0113 397 0864 
  Simon Ashton, Executive Chairman           www.abbeycrest.co.uk 
 Evolution Securities Limited                   Tel:0113 243 1619 
  Joanne Lake/Casper Kaars                  www.evosecurities.com 
 Rawlings Financial PR Limited                 Tel: 01653 618 016 
  Catriona Valentine                  www.rawlingsfinancial.co.uk 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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