Interim Management Statement

 

TIDMPGI 
 
RNS Number : 5129S 
PGI Group PLC 
19 May 2009 
 

 
 
19 May 2009 
 
 
 
 
PGI Group Plc 
 
 
Interim Management Statement 
 
 
This Interim Management Statement is made in accordance with the requirements of 
the UK Listing Authority's Disclosure and Transparency Rules. 
 
 
The statement covers the period from 1 January 2009 to date. 
 
 
During the period there have been no material events or transactions affecting 
the Group and no significant change in the financial position. The Group's net 
bank borrowings have remained at a similar level to those at the end of 2008. 
 
 
Overall the Group's financial performance has been satisfactory and in line with 
management expectations. 
 
 
The food group businesses have made a good start to the year. Tea production has 
been about 4% higher than for the same period in 2008. Auction prices achieved 
have been similar to last year. Rose production has increased by 14% due to more 
benign growing conditions. Input price inflation has eased considerably during 
the period. 
 
 
The Zimbabwe tea business is beginning to benefit from the more stable economic 
environment. It will take a long time to restore this business to a reasonable 
level of activity and we do not expect a positive contribution from this 
business this year. 
 
 
The property market in Russia remains weak and this continues to curtail 
activity of the Jensen Group operations. 
 
 
For further information: 
 
PGI 020 7236 6135 
Geoff Moores, Financial Director 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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