RNS Number : 8402J
  Airea PLC
  10 December 2008
   
    AIREA plc ("AIREA" or "the Group")
10 December 2008
Trading update
    Since AIREA released its annual results on 29 September 2008, there has been a deterioration in market conditions. In the meantime,
significant steps have been taken to streamline the manufacturing operations and control costs.  The Board believes that these measures will
mean that the Group is well placed when market conditions improve.
    However, as the Board is not yet able to predict when this improvement in market conditions will take place, they have reduced their
expectations for the remainder of the financial year significantly. Despite the improvements in manufacturing efficiency and the reduction
in costs, the Board now anticipate that the Group will report an operating loss for both the half year to 31 December 2008 and the full year
to 30 June 2009.
    In view of the above situation, the Board does not intend to declare an interim dividend for the year ending 30 June 2009.  The Board
will keep the situation under review and will make a decision about whether to recommend a final dividend later in the year.
    For further information please contact:
    AIREA plc
    Neil Rylance                                    Chief Executive Officer                                                             
01924-266561
Kevin Henry                                    Group Finance Director                                                            
01924-266561
    Brewin Dolphin Investment Banking
    Andrew Kitchingman                       Managing Director - Corporate Finance                                    0845-2134730
Sean Wyndham-Quin                      Assistant Director - Corporate Finance                                      0845-2134747

    ENDS

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