Interim Management Statement

    RNS Number : 6595U
  Brammer PLC
  19 May 2008
   



       19 May 2008 
    Brammer plc
    Interim Management Statement

    Brammer plc, the leading pan European added value technical distributor today issued its first Interim Management Statement as required
in accordance with the EU Transparency Directive for the period from 1st January 2008 to date.  

    Our strong performance in 2007 continued in 2008, with an increase in total revenue of 34% in the first four months to 30 April 2008,
with all territories contributing to this performance. This revenue increase was based on organic growth of 12%, growth of 11% from
acquisitions made in 2007, and 11% based on currency. Key account growth was 26%. Gross profit margins were maintained at similar levels to
last year, and operating cash flow at the end of April was in line with management expectations. Non operating cash expenditure of £5.3
million was made on acquisitions and deferred consideration, and £1.5 million on the purchase of the company*s shares to satisfy vestings
under the employee share plan. We announced the acquisition of CBS in the UK on 1 April 2008 for an initial consideration of £3.5 million
and Tecnoforniture in Italy on 15 May 2008 for initial consideration of £4.3 million.

    David Dunn, Chairman, commented: 

    "I am delighted with the start to the year, which builds on the momentum from last year. Brammer has continued to perform well,
increasing sales by 34% in the first 4 months of 2008, compared with the same period in 2007. This performance was achieved by continuing to
apply our tried and tested growth drivers, consisting of organic growth by targeting specific market segments, further development in both
national and pan-European key accounts, implementation of Insites, cross-selling, and acquisitions.  Based on our encouraging experience to
date, the Board is confident of further progress in the rest of the year.  

    Background Note

    NB All data on financial and sales cover the period from 1 January 2008 to 30 April 2008, compared with the same period in 2007, there
being one extra working day in 2008. All figures based on unaudited management accounts.


    Enquiries:    Brammer plc                              0161 902 5572
                          David Dunn, Chairman
                          Ian Fraser, Chief Executive 
                          Paul Thwaite, Finance Director

    Issued:        Citigate Dewe Rogerson Ltd       020 7638 9571
                         Martin Jackson/Nicola Smith 
This information is provided by RNS
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