Results of trading subsidiary

 

TIDMFSS 
 
RNS Number : 3627R 
Forest Support Services PLC 
20 August 2010 
 

                          FOREST SUPPORT SERVICES PLC 
                                   (AIM: FSS) 
 
      Results of FSS's trading subsidiary, Forest Traffic Signals Limited 
 
Introduction 
 
On 12 August 2010 Forest Support Services plc ("Forest" or "the Company") 
announced that it had entered into a conditional agreement to dispose of its 
only trading subsidiary, Forest Traffic Signals Limited ("FTS"), to Caswell 
Support Services Limited, a newly incorporated company established by Mr Ross 
Williams, Managing Director of Forest, for the purpose of use as a vehicle to 
acquire FTS. 
 
The details of the Disposal were set out in a circular to shareholders dated 12 
August 2010 ("the Circular").  The Disposal is conditional on shareholders' 
approval which is being sought at a general meeting to be held on 10 September 
2010. 
 
The statutory accounts for FTS for the year ended 31 March 2010 have now been 
completed.  Profit after tax for the year was GBP124,259 (2009:GBP83,386) on 
turnover of GBP8.8 million (2009:GBP6.75 million.  The net assets of FTS as at 
31 March 2010 were GBP212,392. 
 
In view of the proposed cancellation and members' voluntary liquidation of 
Forest, details of which are set out in the Circular, the Directors are not 
intending to produce audited consolidated group accounts for Forest for the year 
ended 31 March 2010. The unaudited consolidated results for the year ended 31 
March 2010 show a profit of GBP202,000 on turnover of GBP8.8 million.  As at the 
31 March 2010 the unaudited consolidated net assets of the Group were 
approximately GBP2.4 million. 
 
Copies of the Circular and the FTS accounts are or shortly will be, available on 
the Company's website www.forestsupportservices.co.uk. 
 
+-----------------------------------+-----------------------------------+ 
| Contacts:                         |                                   | 
+-----------------------------------+-----------------------------------+ 
|                                   |                                   | 
+-----------------------------------+-----------------------------------+ 
| Forest Support Services Plc       |   www.forestsupportservices.co.uk | 
+-----------------------------------+-----------------------------------+ 
| Christopher Powell, Chairman      |              [phone] | 
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|                                   |                                   | 
+-----------------------------------+-----------------------------------+ 
| WH Ireland Limited                |              www.wh-ireland.co.uk | 
+-----------------------------------+-----------------------------------+ 
| Marc Davies                       |              [phone] | 
+-----------------------------------+-----------------------------------+ 
 
 
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