Jacques Vert PLC
30 April 2008
DATE: Embargoed until 07.00am, Wednesday 30 April 2008
CONTACTS: Paul Allen, Chief Executive
Ian Johnson, Group Finance Director
Jacques Vert Plc
Tel: 08700 345636
Alistair Mackinnon-Musson
Nicola Savage
Hudson Sandler
Tel: 020 7796 4133
Email: jacquesvert@hspr.com
JACQUES VERT PLC ('the Group')
Trading Update in Respect of the Year Ended 26 April 2008
At the time of announcing its Interim Results in January, the Group reported
like-for-like sales during the 10 weeks since the half year end 2.2% lower than
the previous year with total gross margin for the same 10 week period 2.7% ahead
of the previous year.
In common with a number of its competitors, the Group has experienced some
deterioration in trading during the past few weeks, which as previously
highlighted are among the most important in the Group's financial year. Full
year like-for-like sales were 0.5% lower than the previous year.
As a result, it is likely that Group profit will fall below the current market
expectation of £5.0 million with the result now expected to be between £4.0
million and £4.5 million.
Stock levels have been well controlled and are expected to be lower than at the
previous year end. Cash generation has also been strong during the year with net
cash at the year end in excess of £2.0 million compared with net debt of £0.9
million as at April 2007.
The Group's Preliminary Results will be announced on 8 July 2008.
- ENDS -
This information is provided by RNS
The company news service from the London Stock Exchange