Trading Statement (6747A)

TIDMSC.

RNS Number : 6747A

Supercart PLC

04 February 2011

4 February 2011

SUPERCART PLC

("Supercart" or the "Company")

Trading Update

Supercart (AIM:SC.), the UK company involved in the design, marketing and distribution of plastic shopping trolleys, is pleased to provide an update to trading for the 12 months to 31 December 2010, as indicated by the Company in the announcement of the change to its accounting reference date to 30 June, made on 16 December 2010.

During the 12 months to 31 December 2010 the Company has seen a significant increase in trolley sales to 111,568 units (2009: 95,209 units) an increase of approximately 17.2 per cent. A further significant order, that had been expected to be delivered in the fourth quarter was deferred, but will be included within the results for the 18 months to 30 June 2011.

The increase in unit sales was achieved together with a significant improvement in gross margins. As a result the Company will announce an improvement in both revenues and margin retention for the 12 month period compared to the previous year. These results will also include the initial benefits of the cost reduction measures announced at the time of the fund raising. The combined impact of these trading and cost control improvements result in a significant reduction in losses before taxation.

As was mentioned at the time of the fund raising Supercart has continued to make ground in the important North American market and the board is encouraged by progress in Europe, through our distribution arrangement with Caddie S.A. The Company anticipates to be able to make further announcements of progress in this regard shortly

Supercart will update shareholders on developments and progress at the time of publication of the second interim results statement for the period to 31 December 2010 which will be made in the first week of March 2011.

 
 Enquiries: 
 Supercart plc 
  Chief Executive 
  Mike Wolfe                      01732 459898 
 Charles Stanley Securities 
  Nominated Adviser and Broker 
  Russell Cook/Carl Holmes        020 7149 6000 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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