- Parkwood maintains a range of public and private leisure facilities like parks and swimming pools.
- Anticipates full-year results to be below market expectations, citing weak demand at its golf management and horticulture businesses in the second half. Trading conditions at these businesses were difficult but performance at its leisure division was surprisingly strong.
- The Glendale Division has been reorganised in the second half of 2008 to create five separate trading companies covering grounds management, golf, horticulture, recycling and 'countryside' activities including arboriculture and landscaping. This new structure became fully operational on 1st January 2009 and will provide an improved focus on performance
- For the year ended Dec. 31, the company expects earnings from continuing operations to be at least 2.3 million pounds, compared with analyst expectations of 3.2 million pounds.
- Tony Hewitt, Executive Chairman, commented:
"The difficulties within the Glendale Division have overshadowed the strong performance within the Leisure Division during the year. The restructuring of the Glendale Division has been completed in time for the start of the new year and I remain confident that profitability will improve within the Division in 2009."
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