WKT Walker (Thomas)

    RNS Number : 5508X
  Walker (Thomas) PLC
  26 June 2008
   
    Date: 26 June 2008                                   
    Embargoed: 7.00am

    Thomas Walker PLC
    ("Thomas Walker" or "the Company")

    Pre-close trading update

    Thomas Walker PLC is today providing an update on current trading to shareholders, before entering into its closed period ahead of the
Preliminary Results announcement for the year ending 30th June 2008.

    The Board had previously indicated at the Interim Results announcement in March 2008 that the general outlook for the remainder of the
financial year remained uncertain. Whilst our expectations that the trading environment would remain difficult have been borne out, it is
pleasing to report that solid progress has nevertheless been made, particularly in the Group's stamping business. 

    The Company retains a cautiously optimistic outlook going into the new financial year. 

    Stamping

    Despite turbulence in the brass market and continuing high prices, trading at the Company's stamping operations has improved and is
profitable. 

    The local management team has taken steps to mitigate the impact of these unpredictable price fluctuations on the business. New sales
resources are in place and we are confident that the business is well positioned for the future.

    Accessories

    Trading in our accessories business, now mostly export, has continued to be particularly challenging. While demand for identity products
in the UK has remained fairly static, our garment accessories business has been impacted by a migration of clothing production to China
together with an overall reduction in demand within key markets in Europe and North America, including the UK.

    The role of TW South East Asia, as a sourcing agency, will give the opportunity to extend from a low cost base into new markets in the
UK.

    Main Board Appointment

    Shareholders will be aware that we welcomed Bill Good to the Main Board of the Company as an Executive Director earlier this month. On
1st July 2008, he will assume the role of Group Managing Director. 

    The Company's existing Group Managing Director Edward Cook will remain on the Main Board of Thomas Walker until his retirement as an
Executive Director in October 2008. 


 Further information:
 John Lomer, Group Finance Director  Steve Douglas       Katie Dale
 Thomas Walker PLC                   Arden Partners plc  Golley Slater
 Tel: 07778 889 977                  Tel: 0121 423 8940  Tel: 0121 284 9743
                                                         Mobile: 07918 716754


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

Thomas Walker Plc (LSE:WKT)
Historical Stock Chart
From Dec 2024 to Jan 2025

Thomas Walker Plc (LSE:WKT)
Historical Stock Chart
From Jan 2024 to Jan 2025