Airea PLC Trading Update (5095M)
21 Januar 2016 - 8:00AM
UK Regulatory
TIDMAIEA
RNS Number : 5095M
Airea PLC
21 January 2016
AIREA plc ('Airea' or the 'Company')
Trading Update
Airea, whose principal activity is the manufacturing, marketing
and distribution of floor coverings, announces a trading update for
the six months ended 31 December 2015.
The Company has consolidated its manufacturing operations from
four locations onto two existing sites occupied by the Company at
Ossett and Wakefield, as part of its on-going strategic efficiency
programme. As a result, whilst there are one-off significant costs
in respect of the site consolidation, on-going costs will be
significantly reduced going forward. These include cost savings
following the expiry of the lease of one of the properties vacated.
In addition, Airea has agreed to lease to a third party its
freehold property in Bury, which is no longer required for group
operations as set out above, once it has been fully vacated by the
Company in the third quarter of this financial year.
Despite the adverse impact on international sales due to the
strength of sterling against the Euro in the first half of the
financial year and the relocation costs referred to above, earnings
are broadly in line with the corresponding period last year.
Further information on the site consolidation will be provided
in Airea's interim results for the six months ended 31 December
2015, to be announced in February 2016.
For further information please contact:
AIREA plc
Neil Rylance, Chief Executive Officer 01924 266561
Roger Salt, Finance Director
N+1 Singer
Richard Lindley 020 7496 3000
James White
This information is provided by RNS
The company news service from the London Stock Exchange
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