TTH Top Ten Hldgs

    RNS Number : 1476E
  Top Ten Holdings PLC
  24 September 2008
   

    Top Ten Holdings PLC

    24 September 2008

    AGM statement


    Sir Aubrey Brocklebank, Non-Executive Chairman of Top Ten Holdings PLC will make the following comments at the Group's Annual General
Meeting to be held at 10.00 am today.

    "Trading is in line with the Board's expectations. The recession is affecting the number of times our customers visit the clubs but the
spend per head has recovered to that of last year. However turnover appears to have stabilised at a reduced level and the benefits of
previous cost cutting are contributing to cash flow.

    As a result of the "Conde Nast" case which overturned the Government's attempt to limit VAT claims to three years, we have made further
claims for VAT refunds which now total some �12 million. The final outcome of this dispute may take several years.

    Your board continues to seek opportunities to dispose of smaller units and will seek restructuring opportunities that benefit
shareholders."
                   
                                
    Enquiries:


    Top Ten Holdings plc                                            01727 850793
    Sir Aubrey Brocklebank, Chairman
    Graham Kerr, Chief Executive

    Greycoat Communications Limited                        0207 960 6007
    Andrew Marshall


    
 

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