REG - MS International PLC - AGM Statement <Origin Href="QuoteRef">MSTL.L</Origin>

MS InternationalAnnouncement

06/09/2014 16:42

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RNS Number : 4684M
MS International PLC
16 July 2014 
 
MS INTERNATIONAL plc 
 
(the 'Group') 
 
AGM Statement 
 
Executive Chairman, Michael Bell will make the following statement at today's
Annual General Meeting of MS INTERNATIONAL plc. 
 
Referring to the 'Outlook' in my statement in the annual report, I
highlighted 
 
'that whilst the markets for our largest division, 'Defence', are contending
with greatly reduced expenditure budgets, it would be unrealistic to
anticipate the current years trading being any easier than the previous
year.' 
 
Since making that statement, we have seen nothing that would suggest any
improvement in the status of that market, although this week at Farnborough
the Prime Minister indicated that there would be some relaxing of the UK
defence budget restraints.  Nevertheless, the tough times continue and whilst
we anticipate the revenue for the 'Defence' division for the year being
similar to that reported last year, overall margins in the division are
expected to be less favourable, owing to the current product mix.
Reassuringly, the number of business opportunities we are either bidding or
tracking continues to grow and performance test results from recent new
product trials are most encouraging. 
 
By comparison both the 'Forgings' and 'Petrol Station Superstructures'
divisions, continue to prosper in line with our expectations. 
 
The Group maintains substantial cash reserves which will see us through these
testing times, so that we may continue to invest wisely in the businesses. 
 
Michael Bell 
 
Executive Chairman 
 
16 July, 2014 
 
For further information, please contact: 
 
MS INTERNATIONAL plc 
 
Michael Bell                                                                  
                      Tel: 01302 322133 
 
Shore Capital 
 
Nomad and Broker 
 
Bidhi Bhoma/Patrick Castle                                                    
             Tel: (0)20 7408 4090 
 
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