Leeds Group PLC Trading Update (4442P)
February 17 2021 - 5:30AM
UK Regulatory
TIDMLDSG
RNS Number : 4442P
Leeds Group PLC
17 February 2021
17 February 2021
Leeds Group plc (the "Company" or the "Group")
Trading Update
The business of the Company is that of a wholesaler and retailer
of fabrics and haberdashery and is conducted by its German trading
subsidiary Hemmers/Itex Textil Import Export GmbH ("Hemmers") and
Stoff-Ideen-KMR GmbH ("KMR"), a subsidiary of Hemmers also based in
Germany.
In the Company's unaudited interim results announcement released
on 15 January 2021, it noted that the German Government had imposed
further countrywide restrictions from 16 December 2020 to 31
January 2021 in response to the Covid-19 pandemic. These
restrictions have now been extended to 7 March 2021 and could be
extended further. Hemmers has been able to continue its trading
activity but at a reduced level, whilst KMR's shops are closed.
Hemmers and KMR management are taking measures to mitigate the
reduced sales, furthermore the Group has applied for government
financial support. The Company's directors expect the significant
impact on KMR's trading will have a negative outcome on the
Company's results for this financial year.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 (MAR) and has been arranged
for release by Jan G Holmstrom, Chairman. The Directors of the
Company are responsible for the release of this announcement.
Enquiries:
Leeds Group plc Tel: 01937 547877
Dawn Henderson
Cairn Financial Advisers LLP Tel: 020 7213 0880
Nominated Adviser
Liam Murray / Sandy Jamieson
Note:
Certain statements made in this announcement are forward-looking
statements. These forward-looking statements are not historical
facts but rather are based on the Company's current expectations,
estimates, and projections about its industry; its beliefs; and
assumptions. Words such as 'anticipates,' 'expects,' 'intends,'
'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions
are intended to identify forward-looking statements. These
statements are not a guarantee of future performance and are
subject to known and unknown risks, uncertainties, and other
factors, some of which are beyond the Company's control, are
difficult to predict, and could cause actual results to differ
materially from those expressed or forecasted in the
forward-looking statements. The Company cautions security holders
and prospective security holders not to place undue reliance on
these forward-looking statements, which reflect the view of the
Company only as of the date of this announcement. The
forward-looking statements made in this announcement relate only to
events as of the date on which the statements are made. The Company
will not undertake any obligation to release publicly any revisions
or updates to these forward-looking statements to reflect events,
circumstances, or unanticipated events occurring after the date of
this announcement except as required by law or by any appropriate
regulatory authority.
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END
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