REG - Andrews Sykes Group - Preliminary Results <Origin Href="QuoteRef">ANSY.L</Origin> - Part 2

Andrews SykesAnnouncement

11/05/2016 07:05

- Part 2: For the preceding part double click  ID:nRSK8448Xa 

Profit and cash flow projections for 2016 and 2017, which have been
prepared on a conservative basis taking into account reasonably possible
changes in trading performance, indicate that the group will be profitable and
generate positive cash flows after loan repayments. These forecasts and
projections indicate that the group should be able to operate within the
current bank facility agreement and that all associated covenants will be
met. 
 
The board considers that the group has considerable financial resources and a
wide operational base. As a consequence, the board believes that the group is
well placed to manage its business risks successfully, as demonstrated by the
current year's result, despite some uncertain external influences. 
 
After making enquiries, the board has a reasonable expectation that the group
has adequate resources to continue in operational existence for the
foreseeable future. Accordingly, the board continues to adopt the going
concern basis when preparing this preliminary announcement and the Annual
Report and Financial Statements. 
 
3.   Distribution of Annual Report and Financial Statements 
 
The group expects to distribute copies of the full Annual Report and Financial
Statements that comply with IFRSs by 20 May 2016 following which copies will
be available either from the registered office of the company; St David's
Court, Union Street, Wolverhampton, WV1 3JE; or from the company's website;
www.andrews-sykes.com. The Annual Report and Financial Statements for the 12
months ended 31 December 2014 have been delivered to the Registrar of
Companies and those for the 12 months ended 31 December 2015 will be filed at
Companies House following the company's Annual General Meeting. The auditors
have reported on those financial statements; their report was unqualified, did
not draw attention to any matters by way of emphasis without qualifying their
report and did not contain details of any matters on which they are required
to report by exception. 
 
4.   Date of Annual General Meeting 
 
The group's Annual General Meeting will be held at 10.30 a.m. on Tuesday 21
June 2016 at Floor 5, 10 Bruton Street, London, W1J 6PX. 
 
This information is provided by RNS
The company news service from the London Stock Exchange