AGM Statement

RNS Number:2934L
Metalrax Group PLC
20 May 2003

CHAIRMAN'S COMMENTS AT THE AGM


METALRAX GROUP PROFITS AHEAD IN FIRST QUARTER


The following statement was made by Mr Eric Moore, chairman of Metalrax Group
PLC, the engineering specialists, at the annual general meeting held in
Birmingham today:-


"In an atmosphere of uncertainty, conflict and difficult trading conditions
around the world, our profits for the first quarter of the year were ahead of
those for the same period in 2002.


"The engineering and storage products division made a strong start to the year
and order books have continued to run at encouraging levels.


"The housewares division is being challenged by this traditionally subdued
selling season which has been further influenced by the slowdown in housing
markets.


"Our resource management and investment programmes are proceeding according to
plan, and although customer demand levels remain difficult to predict, we are on
course to maintain steady progress"

ENDS


Further information: Mr Eric Moore, chairman - Tel: [phone]







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