Trading Statement
November 06 2002 - 1:01AM
UK Regulatory
RNS Number:4043D
Brammer PLC
06 November 2002
6 November 2002
Brammer plc
Trading Update
On 3 September Brammer plc announced its interim results for the first half of
2002 and gave a statement and outlook at that time. Since then sales revenues
have continued in line with the expectations stated at that time.
In Brammer Industrial Services we believe that we continue to gain market share
in difficult markets. In September and October, on a sales per working day
basis versus the same period last year, revenues grew by 0.9%. This represented
growth of 1.7% in France, 1.0% in Germany, 7.0% in Spain, and a slight decline
of 0.9% in the UK. October improved upon September and revenues increased in all
territories. Since the start of September, we have won several large national
and pan-European contracts.
In Livingston our calibration and measurement services, and our computer
products businesses have remained stable. The markets for our test equipment
management services business continue to be weak as previously indicated.
Our overall cost reduction plans are proceeding well and in line with plans
outlined in September.
We have continued to produce operating cash flow and at the end of October our
net debt was #69 million (compared with #67 million on June 30th) having paid
dividends of #6.0 million and acquisition and restructuring costs of
approximately #2.5 million.
This statement has been made to keep shareholders up to date with developments
within the company.
Enquiries: Brammer plc 0161 928 3363
David Dunn, chairman
Ian Fraser, chief executive
Paul Thwaite, finance director
Issued by: Citigate Dewe Rogerson Ltd 020 7638 9571
Martin Jackson
Anthony Kennaway
This information is provided by RNS
The company news service from the London Stock Exchange
END
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