Trading Statement (6768D)
March 25 2011 - 10:50AM
UK Regulatory
TIDMREAL
RNS Number : 6768D
Real Office Group PLC
25 March 2011
Real Office Group plc
Trading update
The Board of Real Office Group plc (the "Company") wishes to
update shareholders on its current trading position.
In the announcement of the Company's results for the year ended
31 July 2010, issued on 3 December 2010, the Board stated that it
had restructured the group to focus on its UK design and build
business, Pacific Interiors Limited ("Pacific") with a view to
growing this business over time.
Around that time, Pacific also appointed a new chief executive
and much work has been done to win new contracts and bring costs
into line with anticipated sales levels. Market conditions remain
challenging with Pacific having made losses in recent months. A
review is being undertaken to assess the business model and future
prospects of Pacific.
Whilst there is a prospect of an improvement in sales later in
the year, over the next few months sales levels are likely to be
lower than needed to cover overheads, resulting in additional
working capital requirements.
The Board is reviewing a number of funding and strategic options
and will make a further announcement in due course.
Enquiries:
Real Office Group plc Tel: 020 7822 1175
Roger Smee, Chairman
Nominated Adviser Tel: 020 7148 7901
Cairn Financial Advisers LLP
Tony Rawlinson
This information is provided by RNS
The company news service from the London Stock Exchange
END
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