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RHL - Redhall News Story

1.6p 0.0  0.0%

Last Trade - 23/05/19

Sector
Industrials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £37.8m
Position in Universe th / 1827

AGM Statement

Wed 26th March, 2014 7:00am
RNS Number : 1885D
Redhall Group PLC
26 March 2014
 



For immediate release                                                                                                                 26 March 2014

Redhall Group plc

("Redhall" or "the Group")

AGM Statement

Redhall Group plc (AIM: RHL), the specialist engineering support services group, will hold its Annual General Meeting ("AGM") today at 12 noon at the office of Squire Sanders, 2 Park Lane, Leeds, LS3 1ES.

At the AGM David Jackson, Chairman of Redhall, will make the following statement:

"Trading in the first half will be marginally ahead of last year with delays in some of our key projects leading to a greater second half weighting in our profitability. However, the Board remains confident of meeting management expectations for the full year.

"We have recently been awarded a contract for Dounreay Site Restoration Limited valued at £1.6m resulting in our order book now standing at approximately £100 million with the potential for further substantial Defence orders. The Group's core markets continue to show good growth and management remains focused on converting opportunities and adding to the order book.

"Following our announcement of 6 February 2014 regarding the disposal of CINIL, our Northern Ireland subsidiary, we can now confirm this will result in a loss of approximately £132,000, including legal and professional charges. In addition, as part of our ongoing strategy to reduce our investment in working capital, we have reviewed the likely recovery of retentions relating to legacy business and intend to create a provision to cover an anticipated shortfall. We anticipate that the combined effect of these two factors will result in an exceptional charge not exceeding £500,000."

Contact details:

 

Redhall Group plc

Tel: +44 (0) 1924 385 386

David Jackson, Chairman

 

Richard Shuttleworth, Chief Executive

 

Chris Lewis-Jones, Group Finance Director

 

 

 

Buchanan

Tel: +44 (0) 20 7466 5000

Mark Court, Fiona Henson, Sophie Cowles

 

 

 

Arden Partners (Joint Broker)

 

Chris Hardie, Director Corporate Finance

Tel: +44 (0) 20 7614 5929

Ed Walsh, Head of Sales

Tel: +44 (0) 20 7614 5964

 

 

Charles Stanley Securities (Joint Broker)

Tel: +44 (0) 20 7149 6000

Russell Cook, Director Corporate Finance

 

Paul Brotherhood,  Sales Trading

 

 

 

Altium, NOMAD and Financial Advisors

Tel: +44 (0) 845 505 4343

Phil Adams, Simon Lord, Paul Lines

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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