Trading update

 

TIDMSC. 
 
RNS Number : 2949O 
Supercart PLC 
28 June 2010 
 

28 June 2010 
 
                                  SUPERCART PLC 
                         ("Supercart" of the "Company") 
 
                                 Trading Update 
 
Supercart (AIM:SC.), the UK company involved in the design, marketing and 
distribution of plastic shopping trolleys, announces that since its preliminary 
results statement on 8 June 2010 the Company has received a number of new orders 
from key North American and South African customers.  These include a 
significant further order from one of the Company's existing North American 
customers, worth over GBP400,000 in the next quarter.  This customer is a global 
retail company with over 750 stores across the US and 1,500 stores worldwide. 
The Company has also received initial orders from two former Rehrig 
International customers, both national retail chains, with a value of over 
GBP70,000. 
 
The Company has also received one of its largest ever single orders from a South 
African customer, for delivery by September 2010, to the value of approximately 
GBP500,000. 
 
The preliminary results announcement stated that the Company will have a short 
term cash funding requirement over the coming months, and that the directors are 
currently considering a number of alternatives including further equity and debt 
funding arrangements.  The Board is also pleased to announce that it has 
received confirmation of support in principle from certain of the Company's main 
shareholders and while there can be no certainty that such funding will be 
ultimately successful, the Board expects to be in a position to announce further 
details shortly. 
 
Mike Wolfe, Chief Executive of Supercart, said: 
"I am pleased that the company continues to make solid progress in our all 
important North American market and continues to trade well in the core South 
African market.  Although take up of orders from the former Rehrig clients in 
the US has been slower than we anticipated, and consequently cash generation has 
been lower than predicted, these customers are now returning and prospects for 
2010 are extremely positive." 
 
+------------------------------------------------+-----------------+ 
| Enquiries:                                     |                 | 
|                                                |                 | 
+------------------------------------------------+-----------------+ 
| Supercart plc                                  | 01732 459898    | 
| Chief Executive                                |                 | 
| Mike Wolfe                                     |                 | 
|                                                |                 | 
+------------------------------------------------+-----------------+ 
| Charles Stanley Securities                     | 020 7149 6000   | 
| Nominated Adviser and Broker                   |                 | 
| Russell Cook/Ben Johnston/Carl Holmes          |                 | 
|                                                |                 | 
+------------------------------------------------+-----------------+ 
| Tavistock Communications                       | 020 7920 3150   | 
| Jeremy Carey                                   |                 | 
|                                                |                 | 
+------------------------------------------------+-----------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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