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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Wellington Hds. | LSE:WLN | London | Ordinary Share | GB0009473900 | 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% | 0.00 | - |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:1032Z Wellington Holdings PLC 26 May 2004 For Immediate Release 26 May 2004 Wellington Holdings plc Chairman's AGM Statement At today's Annual General Meeting of Wellington Holdings plc., the manufacturer and distributor of specialist polymer seals for engineering and industrial applications worldwide, all resolutions put to shareholders were duly passed. Following the conclusion of the formal business of the meeting Chairman, Brian Kent, made the following statement on current business and outlook: "Future Outlook and Present Trading Helped by the high world oil prices and heavy machinery exports from Europe to China, our order book stands at the highest level for 5 years. As a result, the year has made an excellent start with profits ahead of plan and last year. The cost base rationalisations of the last 18 months are now bearing fruit and we expect a good half year and, despite the weak dollar, a very satisfactory year in total. Site Negotiations Negotiations concerning the sale of the Hampton site, as announced in our Interim statement, are now finalised. A contract to sell the Hampton site for #6.5m, subject to 'final' planning permission has just been signed. Rather than incur the risks of a move to a new location nearby with a sub-optimised factory, we have chosen to lease, on half our present site, a new, specially built to our specification, highly efficient factory which will be available progressively during 2005 for which we will pay a rental of #590k per annum starting in 2007. We plan for substantial savings from the new energy-efficient premises and optimised shopfloor process flow." -Ends- Notes to Editor: Wellington Holdings is a highly focused global manufacturer and distributor of specialist seals used in new equipment and the aftermarket. Main markets include mining equipment, construction machinery, aerospace, materials and fluid handling, and especially strong in oil and gas. Wellington trades under four brands, Hallite Seals, Dynamic Seals, CDI Seals and Hallite Polytek. For Further information contact: Brian Kent, Chairman 020 8941 3774 Chris Wilkins, Chief Executive Officer 020 8941 3774 Mick Paver, Finance Director 020 8941 3774 Wellington Holdings plc David Hardy/Paul Vann 020 7786 9600 Binns & Co. PR Limited Or visit the Wellington website: www.wellingtonholdings.com This information is provided by RNS The company news service from the London Stock Exchange END AGMSEIFEMSLSEEI
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