Corporate News

Interim Management Statement October 2010

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  

Board Changes October 2010

Molins PLC, the international specialist engineering company, is pleased to announce the appointment of Avril Palmer-Baunack as a non-executive director of the company and Chairman of the board with effect from today's date, following Jonathan Azis' decision to step down from the board, also effective today, to enable him to spend more time on his other activities.

 

Avril is Chief Executive Officer of Autologic Holdings plc and a non-executive director of Helphire Group plc and Alexon Group plc. She was formerly Chief Executive Officer of Universal Salvage plc. There are no further matters to be disclosed in relation to this appointment pursuant to LR 9.6.13 of the FSA Listing Rules.

 

Enquiries:

 

 

Molins PLC

                                                                  

Tel: +44(0)1908 246870

Dick Hunter, Chief Executive

 

 
John Allkins, Senior Independent Director  

Change of Adviser

Molins PLC is pleased to announce the appointment of Singer Capital Markets Limited as Financial Adviser and Corporate Broker to the Company with immediate effect.

 

For further information please contact:

 

Enquiries:

 

 

Molins PLC

 

Tel: +44(0)1908 246870

Dick Hunter, Chief Executive

 

 

David Cowen, Group Finance Director    

 

 

Singer Capital Markets Ltd

Tel: +44(0)203 205 7500

 

Shaun Dobson

 

 

Citigate Dewe Rogerson

 

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

 

 

Pre-Close Trading Update

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