Autins Group PLC AGM Statement (3867U)
29 March 2019 - 6:00PM
UK Regulatory
TIDMAUTG
RNS Number : 3867U
Autins Group PLC
29 March 2019
29 March 2019
Autins Group plc
(the "Company" or the "Group")
AGM Statement
Autins Group plc (AIM: AUTG), a leading designer, manufacturer
and supplier of acoustic and thermal insulation solutions for the
automotive sector, will hold its Annual General Meeting today at
the offices of Freeths LLP, 3rd Floor, The Colmore Row Building,
Colmore Circus, Queensway, Birmingham commencing at 4:00pm, where
the Group's Chairman, Adam Attwood, will provide the following
statement:
"FY2018 was a challenging year that ultimately led to a
disappointing financial performance for the Group. FY2019 will be a
year of positive momentum for Autins. Gareth Kaminski-Cook has
brought renewed stability and energy to the senior management team
and that is underpinned by the launch, in November 2018, of the
Autins' Values; the Group's six core shared principles for driving
and developing the business.
"Our cost base was reduced at the beginning of FY2019 to reflect
short term demand from our key customers, yet despite market
uncertainties our financial performance for FY2019 is currently in
line with management expectations. We expect continued sales
improvement for our Neptune product and will continue to focus on
customer diversification through development of our overseas
operations and our Tier 1 supplier relationships.
"The Board remains confident in our strategy and the
considerable market opportunity for the Group.
"The Company will release interim results for the six months
ending 31 March 2019 in June 2019."
For further information please contact:
Autins Group plc Via Newgate
Adam Attwood, Non-Executive
Chairman
Gareth Kaminski-Cook, Chief
Executive
James Larner, Chief Financial
Officer
N+1 Singer Tel: 020 7496 3000
(Nominated Adviser and Broker)
Mark Taylor / Lauren Kettle
(Corporate Finance)
Mia Gardner (Corporate Broking)
Newgate Communications Tel: 020 7653 9850
(Financial PR)
Adam Lloyd
Tom Carnegie
About Autins
Autins specialises in the design, manufacture and supply of
acoustic and thermal insulation solutions primarily in the
automotive sector but with an increasing focus on other sectors,
including flooring, building and wider industrial applications.
The Group is one of the leading suppliers of noise and heat
management products in the automotive market, producing and
supplying over two million parts per month to customers including
some of the world's leading vehicle manufacturers.
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Authority to act as a Primary Information Provider in the United
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contact rns@lseg.com or visit www.rns.com.
END
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