LTS Litho Supplies

 

TIDMLTS 
 
RNS Number : 4416S 
Litho Supplies PLC 
19 May 2009 
 

LITHO SUPPLIES Plc ( "Litho Supplies" or the "Company" ) 
Interim Management Statement 
19 May 2009 
 
 
Having announced the closure of the digital electronics division at the end of 
2008 total sales for the first four months of 2009 remain at a similar level to 
the last few months of last year and gross margins levels are being maintained. 
The new computer system functionality has enabled the Company to advance its 
reorganisation programme with the accounting and administration of the business 
now centralised in Breaston, Derbyshire. As a result of this there has 
regrettably been a further reduction in the number of employees in 2009 and this 
will lead to a lower cost base moving forward. 
The annual accounts for the year ended 31st December 2008 were released on 30th 
April 2009 and as indicated in the Chairman's Statement at that time the Company 
has new finance arrangements in place. This facility provides an increased level 
of headroom for working capital and allows the Company to continue its 
reorganisation programme and pursue other cost saving opportunities as they 
arise. 
 There remains an overcapacity within the print industry at the present time and 
bad debts have continued to be incurred this year. However, encouragingly there 
has been a slow down and bad debts are at a lower level than in the second half 
of last year due to tight credit control and cash collection procedures. The 
Company continues to rigorously assess the credit worthiness of all its 
customers and keep stock levels at the appropriate level to maintain its 
services to customers. 
The number of customers ordering online has continued to increase and this has 
enabled the Company to improve its operating efficiencies which has also been a 
feature in reducing costs. 
The Company has continued to be active in seeking new business and indications 
within the industry are that market share is being maintained. 
Contacts: 
Litho Supplies Plc 
Michael Hammond, Chief Executive     Tel: 01332 873921 
Andrew Raca, Blue Oar Securities Plc      Tel: 0207 448 4400 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 IMSBSGDURBBGGCI 
 

Litho Supplies (LSE:LTS)
Historical Stock Chart
Von Mai 2024 bis Jun 2024

Litho Supplies (LSE:LTS)
Historical Stock Chart
Von Jun 2023 bis Jun 2024