TIDMMRX

RNS Number : 4943V

Metalrax Group PLC

13 January 2012

Metalrax Group PLC ("Metalrax" or the "Company")

Trading Update and Directorate Change

Trading Update

Metalrax, the niche supplier of specialist engineering and consumer durable products, today provides an update on trading prior to the release of its preliminary results on 19 March 2012 for the year ended 31 December 2011.

The directors anticipate that the Group's performance for the full year ended 31 December 2011 will be in line with market expectations.

Cash flow from operations continues to be positive and management has continued to make good progress in reducing net debt, which has consistently been lower than anticipated.

With regards to the coming year, the well-publicised macro-economic uncertainty in many world economies is concerning. The Group has seen some weakening in forward order books but it is too early to say whether this is the start of a trend. However, management continues to focus on growth initiatives, margin improvement, overheads, working capital controls and prudent asset investment

Directorate Change

Metalrax is pleased to announce the appointment of Caroline Green as Group Finance Director of Metalrax Group PLC with immediate effect.

Caroline Inez Green, aged 43, has been a member of the senior management team at Metalrax since 2008 and most recently, as Director of Corporate Development, has been responsible for non-core asset disposal to reduce gearing, growth initiatives, investor relations, group communications, the property portfolio, and the Group's future M&A strategy. Caroline has recently completed a 5-year term as a non-executive director of the charity The MS Society.

Andrew Walker, Chairman, said:

"I am delighted to be welcoming Caroline to the Board of Metalrax. Caroline has been an integral member of the senior management team at Metalrax for a number of years. This promotion to the Board is well deserved and I look forward to working with Caroline in her new role."

Enquiries:

 
                                           +44 (0) 845 030 
 Metalrax Group PLC                         3300 
 Andrew Richardson, Chief Executive 
 Caroline Green, Group Finance Director 
 
 Arden Partners plc 
                                           +44 (0) 121 423 
 Steve Douglas                              8943 
                                           +44 (0) 207 614 
 Jamie Cameron                              5925

This information is provided by RNS

The company news service from the London Stock Exchange

END

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