Northbridge Industrial Services PLC Pre-Close Trading Update (3986Z)
06 February 2014 - 6:00PM
UK Regulatory
TIDMNBI
RNS Number : 3986Z
Northbridge Industrial Services PLC
06 February 2014
For immediate release 6 February 2014
NORTHBRIDGE INDUSTRIAL SERVICES PLC
("Northbridge" or the "Group")
Pre-Close Trading Update
Northbridge, the industrial services and rental company, is
pleased to issue the following pre-close trading statement in
advance of its preliminary results announcement for the year ended
31 December 2013, which is scheduled to be released during the week
commencing 7 April 2014.
Trading during the second half of 2013 featured strong cash
generation, resulting in a significant reduction in gearing, solid
equipment sales and rental revenue and further direct investment
into the hire fleet.
Early indications are that the two acquisitions completed late
in the year are integrating well and the Group expects to see
benefits flowing through in future periods which should help to
mitigate the impact of exchange rate movements.
The Group expects results for the year ended 31 December 2013 to
be in line with management's expectations.
Commenting on trading, Eric Hook, Chief Executive Officer of
Northbridge, said:
"The acquisitions and investment into the Group's hire fleet
have increased and strengthened our successful global business. We
remain committed to our strategy of organic and acquisitive growth
through continued investment into the hire fleet and by the
acquisition of specialist, cash generative rental businesses. We
remain optimistic of continued growth and are well positioned as
the world economy continues to show signs of improvement."
For further information:
Northbridge Industrial Services plc
Eric Hook, Chief Executive Officer
Craig Robinson, Finance Director 01283 531645
Westhouse Securities Limited (Nominated Adviser
and Broker)
Robert Finlay / Antonio Bossi / Paul Gillam
/ Henry Willcocks 020 7601 6100
Buchanan
Charles Ryland / Clare Akhurst 020 7466 5000
About Northbridge:
Northbridge Industrial Services plc hires and sells specialist
industrial equipment to a non-cyclical customer base. With offices
or agents in the UK, US, Dubai, Belgium, Germany, France,
Australia, Singapore, India, Brazil, Korea and Azerbaijan,
Northbridge has a global customer base. This includes utility
companies, the oil and gas sector, shipping, construction and the
public sector. The product range includes loadbanks, transformers,
generators, compressors and oil tools. Northbridge was admitted to
AIM in 2006 since when it has recorded increased earnings and
dividends based on providing a high level of service,
responsiveness and flexibility to customers. It has grown by
acquisition of companies in the UK, Dubai, Azerbaijan, Australia
and Belgium and through investing further in those acquired
companies to make them more successful. Northbridge continues to
seek suitable businesses for acquisition across the world.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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