Interim Management Statement

 

TIDMJSP 
 
RNS Number : 6508X 
Jessops plc 
19 August 2009 
 

 
 
19 August 2009 
 
Jessops Plc 
Interim Management Statement for the period from 24 May 2009 to 16 August 2009. 
 
Trading Update 
 
 
On 27 May 2009 Jessops plc ("Jessops") announced its interim results for the six 
months ended 31 March which showed like for like sales down 4.5%. Jessops also 
reported on trading in the 8 weeks ended 24 May when like for like sales were 
down 3.6%. 
 
Against the background of the continuing difficult retail environment, trading 
in the 12 weeks ended 16 August has been broadly similar with like for like 
sales down 4.7%. 
 
 
The Board continues to expect the business to report a loss before non-recurring 
charges and taxation for the year. 
 
 
 
 
Financial position 
The Group continues to engage with its advisers and its bankers HSBC Bank plc 
("HSBC") to put the business on a more stable footing for the future, including 
discussions on a fundamental restructuring of its debt. Discussions with HSBC 
continue working towards a solvent solution. However, as previously announced, 
due to the historic high level of debt, the Board believes that it is unlikely 
that any value will be attributed to shareholders. 
 
Given the ongoing discussions to put the business on a more stable footing for 
the future, the Board of Jessops has decided to change the Group's year end from 
30 September to 30 November 2009. 
 
 
 
For further information please contact: 
 
 
Brunswick 
Jonathan Glass    Tel: [phone] 
David Litterick 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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