REG - Leeds Group PLC - Trading Update

LeedsAnnouncement

29/04/2022 10:30

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RNS Number : 8706J  Leeds Group PLC  29 April 2022

29 April 2022

Leeds Group plc

(the "Company")

 

Trading Update

 

In the Interim Statement announced on 17 January 2022, the Company commented
that the Covid-19 pandemic continued to impact trading activities, with
revenues in both trading companies, Hemmers/Itex Textil Import Export GmbH and
Stoff Ideen KMR GmbH, having been significantly reduced in the first half of
the year compared with the previous year.

 

This trend has continued in the second half of the year, despite the easing of
Covid-19 restrictions, with consumer confidence further affected by the recent
conflict in Ukraine and its impact on domestic expenditures.

 

As indicated in the Interim Statement announcement, management has taken steps
to reduce costs to reflect reduced activity levels and these efforts will
continue. The Company does not expect the German government to provide any
further financial support schemes as Germany is no longer in a lockdown
situation. Management is currently undertaking an operational review of both
businesses to assess what further actions need to be taken to return the
Company to profit.

 

This announcement contains inside information for the purposes of UK Market
Abuse Regulation and has been arranged for release by Jan G Holmstrom,
Chairman.

 

Enquiries:

 

 Leeds Group plc                Tel:  01937 547877

 Dawn Henderson
 Cairn Financial Advisers LLP   Tel:  020 7213 0880

 Nominated Adviser

 Liam Murray / Sandy Jamieson

 

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