Sprue Aegis plc Trading Statement (4937M)

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RNS Number : 4937M

Sprue Aegis plc

31 July 2017

31 July 2017

Sprue Aegis plc

("Sprue", the "Group" or the "Company")

Trading update

Sprue (AIM: SPRP), one of Europe's leading developers and suppliers of home safety products, today issues the following trading update for the six months ended 30 June 2017 ("H1 2017").

As announced on 15 June 2017, Sprue has made a positive start to the year and for H1 2017 expects to report sales of approximately GBP26.0m (H1 2016: GBP25.9m) and operating profit* of approximately GBP1.5m (H1 2016: operating loss of GBP0.9m before share based payments charge). The strong return to profitability has been achieved through a significant improvement in gross margin and a net reduction in overheads.

The Group remains well positioned to deliver full year adjusted operating profit in line with market expectations.

The new manufacturing and distribution arrangements announced on 31 March 2017 continue to progress well. The Board believes that these transformational initiatives will further strengthen the Group's offering in its key markets across Europe and greatly enhance the Group's ability to accelerate growth and maximise shareholder value in the medium to longer term.

A further update on trading will be provided at the time of the release of the Company's H1 2017 results, which are expected to be announced on 25 September 2017.

*Operating profit in H1 2017 is stated before share based payments charge of GBP0.2m (H1 2016: GBP0.3m)

For further information, please contact:

 
 Sprue Aegis plc                        02477 717 700 
 Graham Whitworth, Executive 
  Chairman 
  Neil Smith, Group Chief Executive 
  John Gahan, Group Finance Director 
 
 Vigo Communications 
  Jeremy Garcia / Fiona Henson 
  / Natalie Jones                       020 7830 9700 
 
 Stockdale Securities                   0207 601 6100 
 Tom Griffiths 
 

Notes to Editors

About Sprue Aegis plc

Sprue's mission is to protect, save and improve our customers' lives by making innovative, leading edge technology simple and accessible. Sprue is one of the market leaders in the European home safety products market and launched its own connected homes product proposition at the end of 2016.

Sprue's principal products are smoke alarms, CO alarms and accessories. The Company has an extensive portfolio of patented intellectual property in Europe, the US and other selected territories. Products are sold under Sprue's leading brands of FireAngel, FireAngel Pro, FireAngel Spec, AngelEye and FireAngel Connect. For further product information, please visit: www.sprue.com

This information is provided by RNS

The company news service from the London Stock Exchange

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July 31, 2017 02:00 ET (06:00 GMT)