Autins Group PLC Trading Update and Notice of Results (2373R)

TIDMAUTG

RNS Number : 2373R

Autins Group PLC

28 October 2019

28 October 2019

Autins Group plc

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

Trading Update and Notice of Results

Autins Group plc (AIM: AUTG), a leading designer, manufacturer and supplier of acoustic and thermal insulation solutions for the automotive sector, provides the following update on trading for the year ended 30 September 2019.

The Board expects to report FY19 results in line with market expectations.

The extensive management actions employed to reduce costs and increase operational efficiency have successfully delivered improved profit margins. The Group is well placed with sufficient capacity to take advantage of the many opportunities in its pipeline to grow and diversify the business.

Sales to customers outside of UK are progressing well and in this regard, the Board is pleased with the developments made by Neptune, the Group's lightweight, high performance material, in securing multiple new business client wins and with production levels ramping up towards the end of FY19, which has continued in the new financial year. The Group continues to successfully pursue work on new vehicle platforms with new and existing OEM customers, as part of its overall growth and diversification strategy.

Gareth Kaminski-Cook, Chief Executive Officer of Autins Group, comments: "This has been a challenging year for both the industry and the Group, but it has also been a year of repositioning, recovery and new business wins. The positive momentum is encouraging and, combined with a stronger balance sheet following the successful placing in the summer, gives cause for optimism for the year ahead."

Notice of Results

Autins will publish results for the year ended 30 September 2019 on 11(th) December 2019.

The management team will be hosting a presentation for analysts on the day of results at 9:30am at the offices of Newgate Communications, Sky Light City Tower, 50 Basinghall Street, London, EC2V 5DE.

For further information please contact:

 
 Autins Group plc                                 Via Newgate 
  Adam Attwood, Non-Executive Chairman 
  Gareth Kaminski-Cook, Chief Executive Officer 
  James Larner, Chief Financial Officer 
 N+1 Singer (Nominated Adviser and Broker)        Tel: [phone] 
  Mark Taylor / Lauren Kettle (Corporate 
  Finance) 
  Mia Gardner (Corporate Broking) 
 Newgate Communications (Financial PR)            Tel: [phone] 
  Adam Lloyd 
  Tom Carnegie 
 

About Autins

Autins specialises in the design, manufacture and supply of acoustic and thermal insulation solutions primarily in the automotive sector, but with an increasing focus on other sectors, including flooring, furniture and wider industrial applications.

The Group is one of the leading suppliers of noise and heat management products in the automotive market, producing and supplying a broad range of support to some of the world's leading vehicle manufacturers.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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October 28, 2019 03:00 ET (07:00 GMT)