Sprue Aegis plc Trading Statement (4937M)
31 July 2017 - 4:00PM
UK Regulatory
TIDMSPRP
RNS Number : 4937M
Sprue Aegis plc
31 July 2017
31 July 2017
Sprue Aegis plc
("Sprue", the "Group" or the "Company")
Trading update
Sprue (AIM: SPRP), one of Europe's leading developers and
suppliers of home safety products, today issues the following
trading update for the six months ended 30 June 2017 ("H1
2017").
As announced on 15 June 2017, Sprue has made a positive start to
the year and for H1 2017 expects to report sales of approximately
GBP26.0m (H1 2016: GBP25.9m) and operating profit* of approximately
GBP1.5m (H1 2016: operating loss of GBP0.9m before share based
payments charge). The strong return to profitability has been
achieved through a significant improvement in gross margin and a
net reduction in overheads.
The Group remains well positioned to deliver full year adjusted
operating profit in line with market expectations.
The new manufacturing and distribution arrangements announced on
31 March 2017 continue to progress well. The Board believes that
these transformational initiatives will further strengthen the
Group's offering in its key markets across Europe and greatly
enhance the Group's ability to accelerate growth and maximise
shareholder value in the medium to longer term.
A further update on trading will be provided at the time of the
release of the Company's H1 2017 results, which are expected to be
announced on 25 September 2017.
*Operating profit in H1 2017 is stated before share based
payments charge of GBP0.2m (H1 2016: GBP0.3m)
For further information, please contact:
Sprue Aegis plc 02477 717 700
Graham Whitworth, Executive
Chairman
Neil Smith, Group Chief Executive
John Gahan, Group Finance Director
Vigo Communications
Jeremy Garcia / Fiona Henson
/ Natalie Jones 020 7830 9700
Stockdale Securities 0207 601 6100
Tom Griffiths
Notes to Editors
About Sprue Aegis plc
Sprue's mission is to protect, save and improve our customers'
lives by making innovative, leading edge technology simple and
accessible. Sprue is one of the market leaders in the European home
safety products market and launched its own connected homes product
proposition at the end of 2016.
Sprue's principal products are smoke alarms, CO alarms and
accessories. The Company has an extensive portfolio of patented
intellectual property in Europe, the US and other selected
territories. Products are sold under Sprue's leading brands of
FireAngel, FireAngel Pro, FireAngel Spec, AngelEye and FireAngel
Connect. For further product information, please visit:
www.sprue.com
This information is provided by RNS
The company news service from the London Stock Exchange
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