AGM Statement

 

TIDMHVX 
 
RNS Number : 7046N 
Huveaux PLC 
16 June 2010 
 

 
HUVEAUX PLC 
 
AGM STATEMENT 
 
At the Huveaux PLC AGM today, the Chairman, Kevin Hand, will make the following 
statement: 
 
"The first 5 months of the year have seen the sale of our Education Division to 
Harper Collins for GBP10m and the UK General Election which has resulted in the 
new Coalition Government. 
 
The sale of the Education Division has left the Group focused on its Political 
Division and with the comfort of a healthy balance sheet with positive cash 
balances.  Following the sale, we announced our intention to return to the 
payment of a dividend and the necessary Capital Reduction exercise will be 
processed following the passing of a resolution at today's AGM. 
 
The UK General Election has resulted in increased interest in the UK Parliament, 
with a new focus on transparency. We are seeing strong demand for information on 
the new Parliament with interest in all 3 major political parties creating 
increased demand for events. 
 
The announcement of cuts within the public sector has resulted in some reduction 
in demand for some of our training events and some uncertainty for potential 
sponsors of events aimed at this market.  This is being mitigated by creating 
additional conferences and events around the new coalition government. 
 
The Group's trading remains significantly weighted to the second half of the 
year - which has been exacerbated by the Election which has pushed additional 
events into the second half.  The Board is cautious regarding how deeply the 
cuts will affect the second half of the year, but remains confident that any 
such reduction will be offset by increased demand across the remainder of the 
portfolio and thus remains confident regarding the full year's results." 
 
For further information, please contact: 
 
+-------------------------------+-------------------------------+ 
| Huveaux PLC                   |                               | 
+-------------------------------+-------------------------------+ 
| Gerry Murray                  | 020 7811 5026                 | 
+-------------------------------+-------------------------------+ 
| Rupert Levy                   |                               | 
+-------------------------------+-------------------------------+ 
|                               |                               | 
+-------------------------------+-------------------------------+ 
| Brewin Dolphin (NOMAD)        |                               | 
+-------------------------------+-------------------------------+ 
| Sandy Fraser                  | 0845 213 2072                 | 
+-------------------------------+-------------------------------+ 
 
 
 
 
 
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