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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Litho Supplies | LSE:LTS | London | Ordinary Share | GB0005196257 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMLTS RNS Number : 8050N Litho Supplies PLC 24 February 2009 Litho Supplies Plc ("Litho Supplies" or the "Company") Trading Statement The Company provided an update to the market on trading on 19th November 2008 and highlighted the ongoing difficulties being encountered within the printing industry. During 2008, the board has undertaken significant steps to reorganise the business and reduce operating costs. The restructuring of the business was designed and implemented in anticipation of a challenging trading environment. In light of ongoing market conditions, these steps have continued in into 2009. The board continues to review overheads and will respond as appropriate to market developments. At the end of 2008, the board decided that it was appropriate to exit the digital printing market which formed part of the electronics division. As a result of this decision the Company has incurred a one-off write down on inventories, which will contribute to full-year 2008 losses. Group turnover for the year ended 31st December 2008 is expected to be in the region of GBP48.5m. As a result of the challenging trading environment, together with substantial additional reorganisation costs, the Company now expects to report a loss for the year greater than market expectations. As a result of steps taken to restructure the business, annual operating costs have been reduced by GBP1.1m. The board anticipates making further substantial cost savings in 2009. In these unprecedented prevailing market conditions, current trading remains very challenging. The board is focused on identifying further cost savings and exploring ways to return the business to profitability. Your board continues to have constructive discussions with its bankers to increase its facilities, which have been maintained at their prior levels, within which the Company has continued to operate. The indications within the industry are that the Company is maintaining market share and the board is continuing to develop new technologies with new and existing suppliers. Further updates will be provided in due course. For further information please contact: Michael Hammond, Chief Executive, Litho Supplies PlcTel 01332 873921 Andrew Raca, Blaine Tatum, Blue Oar Securities Plc Tel 020 7448 4400 This information is provided by RNS The company news service from the London Stock Exchange END TSTZZLFLKLBBBBB
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