ADW Addworth

    RNS Number : 0046Y
  Addworth PLC
  01 July 2008
   


    1st July 2008 

    Addworth Plc

    Trading Statement

    Mark Watson-Mitchell, Chairman of Addworth Plc, the corporate investment group, is pleased to provide an update to the market with the
following trading statement:

    "Last year we enjoyed a very useful 55% growth to �3.82 million in shareholders' funds, aided by the five new issues that we sponsored.
This year, to date, we have handled just one new issue, which reflects the difficult markets that have persisted in the first half.

    On the face of it that lack of corporate action would suggest that we have not been working as to our business model. However, we will
shortly float Insurance Ventures Plc, which is involved in motor claims and risk management, of which we are particularly enthusiastic. 

    Later this summer we will be floating an exciting company in the farmer's markets business, which should attract significant attention.
Following that we are anticipating the float of a company involved in investing in 'greener' projects.

    Other ventures in development include a tourism project in Zanzibar, the float of which is planned for later in the year.

    Elsewhere in our portfolio of activities we remain very confident of a significant upside for our wholly owned insurance subsidiary Risk
Transfer Limited. That company is currently in negotiations with a major group about the development and marketing of our unique LeaseCare
product, the potential for which is considered substantial.

    We now have a declared aim of acquiring companies in the financial services sector, two such interests are in the early stages of
discussion.

    Despite the somewhat turbulent equity market the Board continues to identify interesting investment and funding propositions and is
feeling confident of further balance sheet strength and growth in 2008."

    -End-

    Further information: 

    Mark Watson-Mitchell, Executive Chairman                                    020 7638 8750
    www.addworth.co.uk 

    Hugh Oram                                                                                  020 7634 4705
    Nabarro Wells & Co. Limited



    Notes to Editors

    Addworth plc (ADW), which is quoted on AIM, is a corporate investment group. The focus is upon the growth of capital value and the
generation of fee income from: establishing and funding newly quoted sector focused companies; acquiring and developing companies with
growth potential; and taking minority equity positions in undervalued smaller listed companies.


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