Autins Group PLC Post Year End Update (9582E)
October 24 2018 - 1:00AM
UK Regulatory
TIDMAUTG
RNS Number : 9582E
Autins Group PLC
24 October 2018
24 October 2018
Autins Group plc
(the "Company" or the "Group")
Post Year End Update
Autins Group plc (AIM: AUTG), a leading designer, manufacturer
and supplier of acoustic and thermal insulation solutions for the
automotive sector, is today providing an update in relation to the
outturn of the year ended 30 September 2018.
As highlighted in our announcements on 6 June and 18 September,
the trading conditions experienced by the Group in 2018 have been
challenging and the Board now expects to report Revenues for FY18
to be not less than GBP29 million and Adjusted Loss Before Tax not
more than GBP1.3 million. Net debt at the year end was GBP4.2
million.
Against this backdrop, the Board is taking steps to ensure the
Company has the correct cost base for the prevailing trading
environment whilst ensuring there is sufficient capacity to take
advantage of the many opportunities to grow and diversify the
business.
In this regard, the Board is pleased to report GBP1 million of
Neptune component sales wins since the interim results in June, of
which 70% have been to new customers across Europe, including with
new OEMs and Automotive Tier 1s. Over the same period the
annualised sales of Neptune based products has increased by
34%.
For further information please contact:
Autins Group plc Via Newgate
Adam Attwood, Non-Executive
Chairman
Gareth Kaminski-Cook, CEO
James Larner, CFO
Cantor Fitzgerald Europe Tel: 020 7894 7000
(Nominated Adviser and Broker)
Philip Davies
Will Goode
Newgate Communications Tel: 020 7653 9850
(Financial PR)
Adam Lloyd
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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END
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