JDR Jourdan

    RNS Number : 5652I
  Jourdan PLC
  20 November 2008
   
    20 November 2008


    Jourdan plc
    ("Jourdan" or the "Group")

    AGM Statement


    At today's Annual General meeting Jourdan's Chairman David Abell made the following statement.

    "Sales and profits in the first four months of this financial year were in line with management expectations. The Westfield/Clinipak
medical packaging business, now our principal trading business accounting for approximately 74% of sales in the first four months of
trading, has achieved record sales and profits for the period. In contrast, the business of Nelsons and Corby are directly dependent on the
high street and have suffered substantial reductions in sales and profits.

    Working capital continues to be carefully managed but the Group is still vulnerable to both customer and supplier failures. Overall debt
levels are running well below budget, indebtedness being currently 39% lower than at the same time last year. Current utilisation of the
facility leaves a headroom of more than �2m compared with the facilities negotiated in June this year.

    The Group is facing challenging times but we believe that our decision to focus Jourdan on the medical supplies sector is proving to be
correct. Westfield/Clinipak exports nearly 50% of sales to some 80 countries and after the most massive sterling devaluation in my lifetime,
this is an excellent place to be."



    Enquiries:

    Jourdan plc                                                                                  01476 403 456
    David Abell, Chairman

    Charles Stanley Securities                                                            020 7149 6000
    Nominated Adviser
    Russell Cook / Carl Holmes


This information is provided by RNS
The company news service from the London Stock Exchange
 
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