Dewhurst PLC Trading Update (2983I)
30 August 2016 - 4:00PM
UK Regulatory
TIDMDWHT
RNS Number : 2983I
Dewhurst PLC
30 August 2016
Dewhurst PLC
(the "Company")
Trading Update
Dewhurst plc, an independent supplier of quality components to
the lift, keypad and transport industries, is pleased to provide a
trading update for the financial year ending 30 September 2016.
The recovery reported at the interim stage has continued through
the third quarter and into the fourth to date. Seasonal effects
mean that the Company's second half is traditionally stronger than
the first half, but the effect is expected to be greater than usual
this year.
The UK vote to leave the EU had an immediate effect on the value
of the pound. A significant proportion of the Company's sales and
earnings are generated in foreign currencies. With the fall in the
pound these sales and earnings are worth more to us. If currencies
remain broadly at today's level through to the end of September, it
will benefit our reported sales and profits for the year, compared
to expectations at the half year.
The recent EU Referendum decision has not yet affected
Dewhurst's underlying level of business. There have been reports in
the media of cancellations and deferrals in commercial property
transactions. However, whilst the decision has generated a period
of uncertainty, it is too early to speculate what impact, if any,
there will be on Dewhurst.
The combined effects of these factors mean that the Board now
anticipate full year profits will be significantly higher than
current market expectations.
- Ends -
For further details please contact:
Dewhurst Plc Tel: +44 (0) 208
744 8200
Richard Dewhurst, Chairman
Jared Sinclair, Finance Director
Cantor Fitzgerald Europe Tel: +44 (0) 207
894 7000
David Foreman / Will Goode (Corporate
Finance)
David Banks (Corporate Broking)
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014. Upon publication of
this announcement, this information is now considered to be in the
public domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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