Swallowfield PLC AGM Statement (8625O)
November 10 2016 - 5:00AM
UK Regulatory
TIDMSWL
RNS Number : 8625O
Swallowfield PLC
10 November 2016
Swallowfield plc
("Swallowfield" or the "Group")
AGM Statement
Swallowfield plc, a market leader in the development,
formulation, and supply of personal care and beauty products,
including its own portfolio of brands, will be holding its' Annual
General Meeting at 12 noon today. At the meeting, Brendan Hynes,
Non-Executive Chairman, will make the following statement:
"The Board is pleased to report that trading in the first four
months of the year is in line with expectations.
In our manufacturing business, the successful delivery of
significant new product launches for major brand owners will
contribute strongly to our performance, particularly in the first
half of our fiscal year. Further contract wins have been achieved,
with both UK and European customers, which will start to contribute
from the beginning of our next financial year.
In our branded business, we continue to be pleased with the
performance and contribution from Brand Architekts, which was
acquired at the end of June 2016. In particular, volumes of the
Christmas gifting ranges are ahead of previous years and we expect
these to make a strong contribution to our first half year.
Bringing together the complementary capabilities and resources
of the two businesses is progressing very well and we continue to
be excited about the future growth possibilities that this
presents.
In October 2016, we were delighted that our Real Shaving Company
brand "sensitive shave gel" won best new product at the prestigious
GQ grooming awards. This aerosol product is an example of how we
can use our core expertise to add value to our brands.
We anticipate that profitability in the first half year will see
a small benefit from the recent weakness of Sterling. Long-term we
aim to self-hedge by broadly balancing dollar and euro sales to
international customers with purchases in the same currencies.
While we remain conscious of the continuing macro uncertainty
both in the UK and internationally, we expect to maintain our
positive momentum and are confident in the prospects for the
year."
For further information please contact:
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Swallowfield plc
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01823 662
Chris How Chief Executive Officer 241
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01823 662
Mark Warren Group Finance Director 241
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Alex Price/ 020 7496
Jen Boorer N+1 Singer 3000
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Josh Royston / 020 8004
Hilary Buchanan Alma PR 4218
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This information is provided by RNS
The company news service from the London Stock Exchange
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