Brand Architekts Group PLC AGM Statement (9597T)
20 November 2019 - 6:00PM
UK Regulatory
TIDMBAR
RNS Number : 9597T
Brand Architekts Group PLC
20 November 2019
BRAND ARCHITEKTS GROUP PLC
("Brand Architekts Group", the "Group" or the "Company")
Annual General Meeting Statement
Brand Architekts Group plc, the personal care and beauty
products group with its own portfolio of brands, will be holding
its Annual General Meeting at 11.00am today. At the meeting,
Brendan Hynes, Executive Chairman, will make the following
statement:
"Since the transformational disposal of the Manufacturing
business on 23 August 2019, the Group's sole focus over the last
two months has been on developing its portfolio of beauty brands.
While still in the early stages as a streamlined business
operation, the Group has made significant strides operationally,
putting in place new systems, new processes and new management,
including the appointment of Chris How as interim CEO on the 24(th)
October 2019.
"UK market conditions remain difficult and international sales
have been negatively affected by increased tariffs on China sourced
products into the USA, which will cause some drag on first half
comparators.
"We expect both the UK and international sales will return to
growth in the second half of the year, underpinned by the complete
management focus on our brand business following the disposal of
contract manufacturing, new product developments and improved UK
distribution for our key brands.
"Whilst we anticipate that ongoing economic and consumer
uncertainty will continue into the new calendar year, the Group's
specialist focus, excellent operations team and strong retail
customer relationships mean that we are well placed to navigate and
grow in this market. As a result, the Board expects to deliver
positive progress for the full year."
For further information please
contact:
Brand Architekts
Group PLC
Brendan Hynes Executive Chairman Via Alma PR
Shaun Dobson/George
Tzimas N+1 Singer (Nomad) 0207496 3000
Josh Royston/Hilary
Buchanan/Sam Modlin Alma PR 0203 405 0205
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END
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