AMU Air Music&Media

    RNS Number : 9966E
  Air Music & Media Group PLC
  03 October 2008
   

     3 OCTOBER 2008

    
AIR MUSIC AND MEDIA GROUP PLC
    ("Air Group" or the "Group")


    AGM Statement


    At the AGM of Air Group, the UK distributor of home entertainment products, to be held at 14:00 today, Chairman Peter Cowgill will
deliver the following statement to shareholders:

    "I am pleased to announce that Group sales for the 2008/09 financial year to date are ahead of last year and, despite margin pressure,
the management team is pleased with the Company performance to date.  

    "Our Distribution business has secured new customers in the early part of the 2008/09 financial year which has led to an increase in
sales in the financial year to date compared to the same period last year. The Wholesale business, which is a much smaller segment of the
Group, continues to face tough market conditions.  

    "The Board recognises that the Group had a strong second half in the financial year ended 31 March 2008 which represents a challenging
comparative but considers the Group well placed to continue performing to market expectation. It remains mindful, however, of current
consumer confidence as we head towards the Christmas period, our most significant trading phase. 

    "The Group has commenced the process to reduce its share premium account and restore the Company to distributable reserves, thereby
placing the Company in a position to commence dividend payments to shareholders. The process is anticipated to be complete before the end of
this financial year.  Further details of the capital reorganisation and future dividend policy will be announced in due course.

    "The Board expects to announce its Interim results on Monday 8 December 2008."

    --ENDS--

    Enquiries:

    AIR MUSIC & MEDIA GROUP PLC                  Tel: 0161 767 1620
    Peter Cowgill (Chairman)                     
            
    BISHOPSGATE COMMUNICATIONS LIMITED    Tel: 020 7562 3351   
    Maxine Barnes/Nick Farmer
    airmusic@bishopsgatecommunications.com 
    SEYMOUR PIERCE LIMITED                           Tel: 020 7107 8032   
    Mark Percy/Matt Thomas     

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