Interim Management Statement

 

TIDMCHLD 
 
RNS Number : 5670G 
Chloride Group PLC 
03 February 2010 
 

                                                                 3 February 2010 
 
                               CHLORIDE GROUP PLC 
 
                          Interim Management Statement 
 
Chloride Group PLC, a leading specialist provider of critical secure power 
solutions, today issued its Interim Management Statement for the period from 1 
October 2009 to date. 
 
Trading in the third quarter was in line with the Board's expectations. 
 
The positive trend in order intake reported at the half year has been maintained 
through the quarter and we are pleased that there was further growth, at 
constant currency, in the order book. 
 
Total sales, which benefited from favourable exchange rates, were solid with 
service revenues continuing to grow organically. 
 
We continued to progress our strategy to build a more balanced international 
business through investments in higher growth potential markets.  In the period, 
we strengthened our position in the Energy and Infrastructure sector with the 
acquisitions of Automatismes Energie Electroniques Systemes SAS ("AEES"), based 
in Lyon, France and Emergency Power Systems plc ("EPS") in the UK. AEES is a 
leading secure power supplier to the French and international energy markets. 
EPS has a market leading position in the rail and underground networks in the 
UK. 
 
Cash generation was strong, partially offsetting the increase in debt 
commensurate with the strategic investments made in the period. The previously 
announced restructuring actions remain on track to deliver in line with 
expectations. 
 
Whilst we remain cautious about the economic environment, we enter the final 
quarter with good order book coverage and a positive trend in order intake, 
which gives us confidence in the outturn for this financial year. 
 
Commenting, Chief Executive Tim Cobbold said: "Trading in the first nine months 
has been in line with the Board's expectations, demonstrating the resilience of 
the business in a challenging market environment.  Secure power remains an 
essential requirement for business continuity globally, underpinning our 
confidence in the long term growth characteristics of our markets." 
 
 
Cautionary statement 
 
All statements other than statements of historical fact included in this Interim 
Management Statement are forward-looking statements.  Such forward-looking 
statements, which reflect management's assumptions made on the basis of 
information available to it at this time, involve known and unknown risks, 
uncertainties and other important factors which could cause the actual results, 
performance or achievements of Chloride Group PLC or the market and economies in 
which Chloride Group PLC operates to be materially different from future 
results, performance or achievements expressed or implied by such 
forward-looking statements.  Nothing in this Interim Management Statement shall 
be regarded as a profit forecast.  Chloride Group PLC and its directors accept 
no liability to third parties in respect of this Interim Management Statement, 
save as would arise under English law.  Accordingly, any liability to a person 
who has demonstrated reliance on any untrue or misleading statement or omission 
shall be determined in accordance with section 90A of the Financial Services and 
Markets Act 2000. 
 
 
Enquiries: 
 
Chloride Group PLC 
 T:  [phone] 
 Tim Cobbold (Chief 
Executive) 
 Neil Warner (Finance Director) 
 
Hudson Sandler 
 T:  +44 
(0) 20 7796 4133 
 Andrew Hayes/Kate Hough 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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