GYG PLC Trading Update and Board Change (2695H)
31 Juli 2019 - 8:00AM
UK Regulatory
TIDMGYG
RNS Number : 2695H
GYG PLC
31 July 2019
31 July 2019
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014. Upon the publication of
this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
GYG plc
("GYG", the "Company" or the "Group")
Trading Update and Board Change
Trading above expectations
Trading Update
GYG (AIM: GYG), the market leading superyacht painting, supply
and maintenance company, today provides the following trading
update for the six months ended 30 June 2019.
The Group is pleased to announce that the positive momentum that
was reported on 21 May 2019 has continued through Q2 and, as a
result, the Board expects that profit performance for the full
financial year will be ahead of current market expectations. This
performance has been driven by continued improvement across the
business.
CFO Change
The Board also announces that, after seven years with the Group
and successfully leading the finance function through the IPO in
2017, Gloria Fernandez has informed the Board of her intention not
to return to the Group after her maternity leave. The Group's
Interim CFO, Kevin McNair, who has been in place during Gloria's
maternity leave will continue in the role for the foreseeable
future.
Remy Millott, CEO of GYG commented:
"I am pleased that the momentum we experienced in Q1 continued
through Q2 and that the Group performed well across all business
units. We are looking forward to a busy Monaco Yacht Show in
September and continued market performance through the remainder of
2019.
"I would like to take this opportunity, on behalf of the Board,
to thank Gloria for her valuable contribution over the last seven
years and we wish her the best of luck on the next stage of her
journey."
The Group will report its Interim Results for the six months
ended 30 June 2019 on 26 September 2019.
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
Sam Macpherson
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
TSTWGURWMUPBGQU
(END) Dow Jones Newswires
July 31, 2019 02:00 ET (06:00 GMT)
Gyg (LSE:GYG)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Gyg (LSE:GYG)
Historical Stock Chart
Von Jul 2023 bis Jul 2024