ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

MCON Mincon Group Plc

45.00
0.00 (0.00%)
24 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Mincon Group Plc LSE:MCON London Ordinary Share IE00BD64C665 ORD EUR0.01 (CDI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 45.00 40.00 50.00 45.00 44.50 45.00 3,750 08:00:29
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Mng Machy, Eq, Ex Oil Field 156.93M 7.47M 0.0352 12.78 95.61M

Mincon Group Plc Full Year Trading Update and Notice of Results

06/02/2024 7:00am

RNS Regulatory News


RNS Number : 0825C
Mincon Group Plc
06 February 2024
 

Mincon Group plc

("Mincon" or the "Group")

 

Full Year Trading Update and Notice of Results

 

Mincon Group plc (Euronext:MIO; AIM:MCON), the Irish engineering group specialising in the design, manufacture, sale and servicing of rock drilling tools and associated consumable products, today provides the following trading update ahead of the publication of the Group's results for the financial year ended 31 December 2023.

Whilst market conditions continue to be challenging, as the mining and construction markets experience weaker demand, the Group's performance in Q4 was in line with expectations and we expect to achieve full-year EBITDA slightly ahead of the prior guidance of €20 million.

We made successful inroads in reducing our working capital position during 2023, particularly through our inventory reduction programme, and we expect to see continued improvement in this initiative into 2024. This, together with a reduced requirement for new capital equipment in our factories following the significant investments made by the Group in recent years, is expected to have a continued positive knock-on effect on our net debt position during 2024.

As a result of the proactive steps taken during 2023 to improve the Group's competitive position, including the ongoing investment in our product development initiatives and the actions taken on costs and inventory management, we believe Mincon is well positioned for growth over the medium-term.

The Group expects to publish its final results for the year ended 31 December 2023 on Monday, 11 March 2024.

 

ENDS

6 February 2024

 

For further information please contact

Mincon Group plc

Joe Purcell - Chief Executive Officer                                             Tel: +353 (61) 361 099

Mark McNamara - Chief Financial Officer

 

Davy Corporate Finance (Nominated Adviser, Euronext Growth Listing Sponsor and Joint Broker)

Anthony Farrell                                                                                 Tel: +353 (1) 679 6363

Daragh O' Reilly

 

Shore Capital (Joint Broker)

Malachy McEntyre                                                                          Tel: +44 (0) 20 7408 4090

Mark Percy

Daniel Bush

  

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 rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
TSTQKPBBOBKDQBK

1 Year Mincon Chart

1 Year Mincon Chart

1 Month Mincon Chart

1 Month Mincon Chart

Your Recent History

Delayed Upgrade Clock