Pre-Close Trading Update

Date: 22/06/10
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Molins PLC, the international specialist engineering company, issues the following trading update ahead of its interim results announcement in August 2010.

 

Order intake remains behind that of the comparable period last year.  Until now the shortfall had been in respect of orders which were expected in the current year.  However, the board is now aware that some of those prospective orders are unlikely to be received, and others have been further delayed, such that current year sales are now expected to be lower than the board’s previous expectations.

 

Additionally, in the first half a sales contract being undertaken within the Packaging Machinery division which commenced in 2009 and proved more technically challenging than expected, has incurred significant further costs which will not be recovered.

 

As a result the board’s current expectation of Group underlying performance in the full year is lower than previously.  In addition, it is expected that some reorganisation will take place in a number of locations as a consequence of the lower activity.

 

Enquiries:

 

 

Molins PLC

 

Tel: +44(0)1908 246870

Dick Hunter, Chief Executive

 

 

David Cowen, Group Finance Director      

 

 

Citigate Dewe Rogerson

 

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