Brand Architekts Group PLC AGM Statement (9597T)

TIDMBAR

RNS Number : 9597T

Brand Architekts Group PLC

20 November 2019

BRAND ARCHITEKTS GROUP PLC

("Brand Architekts Group", the "Group" or the "Company")

Annual General Meeting Statement

Brand Architekts Group plc, the personal care and beauty products group with its own portfolio of brands, will be holding its Annual General Meeting at 11.00am today. At the meeting, Brendan Hynes, Executive Chairman, will make the following statement:

"Since the transformational disposal of the Manufacturing business on 23 August 2019, the Group's sole focus over the last two months has been on developing its portfolio of beauty brands. While still in the early stages as a streamlined business operation, the Group has made significant strides operationally, putting in place new systems, new processes and new management, including the appointment of Chris How as interim CEO on the 24(th) October 2019.

"UK market conditions remain difficult and international sales have been negatively affected by increased tariffs on China sourced products into the USA, which will cause some drag on first half comparators.

"We expect both the UK and international sales will return to growth in the second half of the year, underpinned by the complete management focus on our brand business following the disposal of contract manufacturing, new product developments and improved UK distribution for our key brands.

"Whilst we anticipate that ongoing economic and consumer uncertainty will continue into the new calendar year, the Group's specialist focus, excellent operations team and strong retail customer relationships mean that we are well placed to navigate and grow in this market. As a result, the Board expects to deliver positive progress for the full year."

 
 
   For further information please 
   contact: 
 Brand Architekts 
  Group PLC 
 Brendan Hynes            Executive Chairman    Via Alma PR 
 
 Shaun Dobson/George 
  Tzimas                  N+1 Singer (Nomad)    0207496 3000 
 
 Josh Royston/Hilary 
  Buchanan/Sam Modlin    Alma PR                0203 405 0205 
 

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November 20, 2019 02:00 ET (07:00 GMT)