CSF Group PLC Year-end trading update (7779W)

TIDMCSFG

RNS Number : 7779W

CSF Group PLC

29 April 2016

29 April 2016

CSF Group plc

("CSF" or the "Group")

Year-end trading update

CSF Group plc (AIM: CSFG), a leading provider of data-centre facilities and services in South East Asia and the largest provider of data-centre services in Malaysia, announces that Deloitte LLP has now commenced its audit work in relation to the Group's results for the financial year ended 31 March 2016. The Board expects to publish its annual results by the end of July 2016.

During the year ended 31 march 2016 the Group recorded higher operating costs, mainly due to the additional lease rental cost of Block C of CX5 which commenced in April 2015. Although the Group has restructured the lease rental terms for CX1, CX2 and CX5, the revised rates were only effective from 1 January 2016. As such, the Group was still subject to the higher lease rental rates for the first nine months of the financial year.

During the second half of the financial year to 31 March 2016, the Group experienced pressure from customers on its data-centre rental rates and a slow-down in payments by certain customers. These factors are expected to cause the outcome for the financial year ended 31 March 2016 to be below the Board's previous expectations and below the outcome for the previous year.

For further information:

 
 CSF Group 
  Phil Cartmell, Chairman              [phone] 
 Allenby Capital Limited (Nominated 
  Adviser & Broker) 
  Nick Naylor / David Hart / Alex      [phone] 
  Brearley                                       5656 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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April 29, 2016 02:36 ET (06:36 GMT)