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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 / 1826

Trading Update

Fri 13th September, 2013 7:00am
RNS Number : 9047N
Redhall Group PLC
13 September 2013
 



For Immediate Release

13 September 2013

 

 

Redhall Group plc

("Redhall" or the "Group")

 

Trading Update

Redhall Group plc, the specialist engineering support services group, today provides the following update.

Trading in the second half of the financial year ending 30 September 2013 is anticipated to be below management expectations with profits below market consensus due to activity levels and margins in the Nuclear segment and in certain aspects of the Engineering segment continuing to be adversely affected.  We announced in our half-year results the award of two new framework contracts within the Nuclear segment but we have experienced a slower than anticipated order intake on these contracts.  Steps have been taken to resize the businesses to suit the current activity levels and this has resulted in further exceptional restructuring costs in the second half-year.

Activity levels and opportunities in the Manufacturing segment are currently promising, but this together with the cash cost of restructuring has led to some increase in the Group's working capital requirements although the total borrowings remain within current facilities.  Our bankers, HSBC, remain supportive of the Group.

We continue to await the judgement on the Vivergo case which was heard in November last year.  We are hopeful of a judgement in the near future, and will update the market as appropriate.

 

Contacts 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
 
END
 
 
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