Interim Management Statement October 2010

Date: 25/10/10
Back to News List

This statement is issued in accordance with the requirements of the Disclosure and Transparency Rules and relates to the period from 1 July 2009. Overall the Group continues to trade in line with the board’s expectations at the beginning of the year.

 

As commented on 28 August 2009, the date the Group announced its results for the six months ended 30 June 2009, performance in both the Tobacco Machinery and Scientific Services divisions was ahead of the board’s expectations, and trading since then has continued to progress satisfactorily.

 

Trading conditions in the Packaging Machinery division remain challenging, with order intake not showing any immediate signs of improvement.

 

The financial position of the Group is broadly comparable with that at 30 June 2009. The balance sheet includes the valuation of the UK defined benefit pension scheme which by its nature is prone to potentially significant changes driven by factors outside the control of the Company. A formal actuarial valuation of the scheme as at 30 June 2009 is being carried out. This valuation, which will take a number of months to complete, will provide the framework for determining the level of funding that the Company will be committed to paying to the scheme to recover any deficit that may exist.

 

Enquiries:

 

 

Molins PLC

 

Tel: +44(0)1908 246870

Dick Hunter, Chief Executive

 

 

David Cowen, Group Finance Director         

 

 

Issued By:

 

 

Citigate Dewe Rogerson

 

Tel: +44(0)20 7638 9571
Angharad Couch