Interim Management Statement (8752L)
08 August 2011 - 4:00PM
UK Regulatory
TIDMDWN
RNS Number : 8752L
Dawson Holdings PLC
08 August 2011
For immediate release 8 August 2011
Dawson Holdings PLC ('Dawson' or 'the Group')
Interim Management Statement
Dawson, the media services business, today issues an Interim
Management Statement covering the period from 1 April 2011 to 5
August 2011 ("the Period", "this Period").
Over the last five months, Dawson has broadly seen a
continuation of the improvements in trading noted in the Half Year
Report on 26(th) May 2011, such that the Group's performance
remains in line with management expectations for the year as a
whole.
Our three cash-generative businesses overall have seen
improvements, as outlined below:
o The Books business continued to make strides during this
Period. UK print performance improved, offsetting a marginal slow
down in export, especially in the Middle East, whilst strong eBook
growth remained an exciting feature of the business.
o The UK and overseas operations of Media Direct have benefited
from both management actions and improvements in publisher
sentiment and results there have continued to develop
positively.
o For the Marketing Services business, market conditions remain
difficult as clients continue to keep a tight rein on expenditure
during the continuing economic uncertainty. A number of new client
wins throughout the year have helped to offset, in part, the impact
of income reductions.
There has been no significant change in the positive financial
position of the Group in the Period. The Group's cash position,
therefore, remains strong with the Group's banking facilities
providing adequate resources for the future.
As at 3 pm on 02 August 2011, the holders of some 88% of
ordinary shares had voted to accept the offer from Smiths News PLC
for the entire issued and to be issued ordinary share capital of
Dawson. In relation to the B ordinary shares, there is an
irrevocable commitment from the holder of 100% of the B ordinary
shares to accept the offer from Smiths News PLC for the entire
issued and to be issued B ordinary share capital of Dawson. The
offers have been extended to 3 pm on 16 August 2011.
Hugh Cawley, Chief Executive, commented:
"We are delighted to note that trading in the Group's businesses
has continued to improve through focusing on anticipating and
satisfying its customers' requirements."
A copy of this announcement is available to download free of
charge from the Company's website www.dawson.co.uk
For further information, please contact: www.dawson.co.uk
Dawson Holdings PLC 020 3167 4128
Hugh Cawley, Chief Executive
Shore Capital 020 7408 4050
Dru Danford/Edward Mansfield
MHP 020 3128 8794
Reg Hoare/Katie Hunt
About Dawson Holdings:
Dawson, through its three divisions, Media Direct, Books, and
Marketing Services, provides specialist media services, supplying
newspapers, magazines, digital and audio visual content to
airlines, academic books to universities and marketing point of
sale materials and fulfilment services.
Dawson Media Direct (DMD) is an international media agency
linking airlines and media publishers to ensure airline passengers
are entertained and informed. DMD provides newspapers, magazines,
movies and other audio visual content to airlines worldwide. 150
million newspapers and magazines are sourced and loaded around the
world each year through DMD's in-house operations in Europe, Middle
East, Asia and the USA, supplemented by outsourced operations to
provide global reach. This allows the customers of more than 120
airlines to benefit from copy availability in lounges, at departure
gates and onboard aircraft. DMD currently owns 50% (soon to become
100%) of Phantom Media, an integrator of audio/visual media content
for airline in-flight entertainment (ife) systems and supplier of
the innovative "bluebox" wireless ife hardware.
As one of the world's principal academic and professional
library suppliers, Dawson Books is at the forefront of technical
innovation in book supply to academic, professional and research
institutions. In the continually expanding world of library
services, Dawson Books is a genuine rarity: an agile, forward
looking company with traditional values and unwavering commitment
to personal service. For over 200 years we have been handling books
with care and making them available to information specialists all
over the world, building a database of some sixteen million titles,
with full bibliographic information on each book, including some
150,000 eBooks. The breadth of our service includes shelf-ready
books to libraries, the latest technological data enhancements to
library book records and dawsonera, our eBook platform, which fully
integrates with our services for print.
Dawson Marketing Services (DMS) provides supply chain solutions
for the distribution of printed materials, primarily for point of
sale and direct mail marketing activities, and for the fulfilment
or e-fulfilment of products sold via mail order or the internet.
DMS makes its design, print, storage, transport, management,
inbound call centre services and web-enabled IT services available
to a blue chip customer base primarily in the media, consumer
electronics, wines and spirits, pharmaceutical, high street retail
and charity sectors.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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