Trading update and strategic review

 

TIDMWKT 
 
RNS Number : 7263O 
Walker (Thomas) PLC 
12 March 2009 
 
 
 
Date: Thursday 12th March 2009 
 
 
Embargoed: 7.00am 
 
 
 
 
THOMAS WALKER PLC 
 
 
Trading update and strategic review 
 
 
 
 
As previously announced in statements by the Company on 11 November 2008 and 19 
December 2008, the Group's trading in the first half of the current financial 
year was adversely affected by declining demand, particularly in its stampings 
business, and cost pressures resulting from the fall in the value of sterling 
against the US and Hong Kong dollars. 
 
 
Trading has continued to be very difficult in January and February 2009, with 
stampings sales and order intake being substantially below both our expectations 
and the corresponding period in the previous year.  A number of redundancies 
have already been implemented within the Group's UK businesses.  However, in the 
absence of any indication of a recovery in orders, it is clear that 
further restructuring, which is likely to require additional funding, is now 
needed. 
 
 
The Board has therefore begun a strategic review of the options which may be 
available to the Group, and will provide a further update as soon as it is in a 
position to do so. 
 
 
 
 
 
 
Enquiries: 
 
 
Bill Good 
Group Managing Director 
Thomas Walker PLC 
Tel: [phone] 
 
 
Colin Smith 
Arden Partners plc 
Tel: [phone] 
 
 
Katie Dale 
Golley Slater 
Tel: [phone] 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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