AGM Statement
28 May 2010 - 4:00PM
UK Regulatory
TIDMSTT
RNS Number : 6864M
Straight PLC
28 May 2010
Date: 28 May 2010
On behalf of: Straight plc ("Straight" or "the Group")
For immediate release
Straight plc
AGM Statement
Straight Plc (AIM: STT), the environmental products and services group, will be
holding its Annual General Meeting today at 12 noon. In his address to
shareholders, James Newman, Chairman, will update shareholders as follows:
"The Board is pleased to announce that the Group's Trade Business has continued
to experience high levels of order intake during this financial year and that
its order book remains at record levels.
The Group's Retail Business is also experiencing increasing levels of sales,
which are a direct result of its appointment in April this year as the sole
supplier of compost bins to the Eastern Shires Purchasing Organisation. Sales
are currently higher than in 2009 and the Retail Business is now making a
positive contribution to the Group.
The integration of the Helesi UK business, which the Group acquired in March
2010, is progressing well and to schedule.
As a result of the continued progress being made throughout the Group, the Board
is confident that its expectations for the full year will be met.
The Company will provide a further update on trading for the first half of the
year ahead of entering its close period at the end of July 2010".
-end-
For further information, please contact
+----------------------------------------+----------------------+
| Straight plc | |
+----------------------------------------+----------------------+
| James Newman, Chairman | 07850 672 727 |
| Jonathan Straight, Chief Executive | 0113 245 2244 |
+----------------------------------------+----------------------+
| | |
+----------------------------------------+----------------------+
| Panmure Gordon | |
+----------------------------------------+----------------------+
| Andrew Godber / Katherine Roe | 0207 459 3600 |
+----------------------------------------+----------------------+
| | |
+----------------------------------------+----------------------+
| Redleaf Communications | |
+----------------------------------------+----------------------+
| Paul Dulieu / Mike Ward | 0207 566 6700 |
+----------------------------------------+----------------------+
Notes to Editors
* Straight plc is the UK's leading supplier of specialist kerbside recycling
containers as well as a key supplier of a broad range of waste and recycling
container solutions. Founded in 1993 by the current Chief Executive, Jonathan
Straight, the business has since supplied more than 12 million kerbside
recycling boxes to local authorities across the UK, securing its position as the
industry leader.
* In 2005, Straight acquired Blackwall Limited, the UK's largest supplier of
home composters and water butts. Through the Blackwall brand, Straight has
delivered more than 3.5 million compost bins and water butts.
* The business operates through two divisions. The core Trade Business supplying
products in bulk to local authorities, utilities, the waste industry, retailers
and other businesses and the Retail Business supplying a range of proprietary
environmentally friendly consumer products directly to the public, often in
partnership with a local authority or a utility.
* Straight operates a radical business model with all manufacture outsourced on
an international basis. Most production is local to the end market keeping
freight movements and associated emissions to a minimum.
* In February 2009, Straight added to its portfolio with the acquisition of
Harcostar Garden Products, a long established premium brand consisting of water
butts, compost bins, watering cans and accessories. This has gained new
distribution channels for the business in the UK and in Europe.
* In March 2010, Straight acquired the business and certain assets relating to
the UK manufacturing operations of Helesi plc, providing the Group with a
proprietary wheeled bin range for the first time.
* Straight plc has established diverse overseas sales channels and is now
producing and selling water butts in Australia and North America.
* Further information about the company and its products can be found at:
www.straight.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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