GYG PLC Trading Update (6111Z)
21 Mai 2019 - 8:00AM
UK Regulatory
TIDMGYG
RNS Number : 6111Z
GYG PLC
21 May 2019
21 May 2019
GYG plc
("GYG", the "Company" or the "Group")
Trading update
Trading above expectations
GYG (AIM: GYG), the market leading superyacht painting, supply
and maintenance company, today provides the following trading
update for the year ending 31 December 2019.
The Board reports that due to a continued improvement in the
general Refit market during the first four months of the year and
further progress in its New Build Strategy, the Group has seen a
positive uplift in trading. Given this strong start to the year,
the Board expects that the outcome for the full year will be ahead
of current market expectations. The Group continues to strengthen
its operational capability and is well positioned to respond to any
further market improvement.
As previously announced, the Company's Annual General Meeting is
due to take place on 23 May 2019 at 11.30am at the offices of CMS
Cameron McKenna Nabarro Olswang LLP, Cannon Place, 78 Cannon
Street, London EC4N 6AF.
Remy Millott, CEO of GYG commented:
"I am delighted that the Group has been able to take advantage
of the improving market conditions which has enabled us to start
the year very positively. We have built a strong order book across
both Refit and New Build and we look forward to the future with
growing confidence."
For further information:
GYG plc via FTI Consulting
Remy Millott, Chief Executive Tel: +44 (0) 20 3727 1000
Officer
Kevin McNair, Interim Chief Financial
Officer
Zeus Capital Limited (NOMAD & Tel: +44 (0) 20 3829 5000
Broker)
John Goold, Dominic King
Dan Bate, Nick Cowles, Ben Burnett
FTI Consulting (Financial PR) Tel: +44 (0) 20 3727 1000
Alex Beagley
Fiona Walker
Laura Saraby
Notes to Editors:
GYG is the market leading superyacht painting, supply and
maintenance company, offering services globally through operations
in the Mediterranean, Northern Europe and the United States. The
Company's brands include Pinmar, Rolling Stock, Pinmar Supply,
Pinmar USA, Techno Craft and ACA Marine. GYG's operations can be
divided into three key sales channels:
-- Refit: repainting and finishing of superyachts, normally as
part of a refit programme. Revenues also include scaffolding and
containment work;
-- New Build: fairing and painting of new vessels as part of the build process; and
-- Supply: selling and delivery of maintenance materials,
consumables, spare parts and equipment primarily to trade
customers.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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