ENSOR HOLDINGS PLC
TRADING UPDATE
The Directors of Ensor Holdings plc ("Ensor") announce an update on current
trading.
Ensor's results for the year ended 31 March 2008, which were announced on 13
June 2008, showed a strong performance with an increase in profit before tax of
19 per cent. compared to the previous year. In the results announcement we
noted that market conditions were becoming more difficult, but we felt that
there were opportunities to counter the effects of the growing economic
uncertainty.
Whilst that remains true, the construction industry, with which we are most
closely aligned, has been badly affected in the last three months and to a
greater degree than most commentators had anticipated. We now believe that the
downturn in our markets will be harsher and will last for longer than we
expected three months ago. We have seen a reduction in year on year sales to
date and, with margins under pressure, expect our half year results to be
materially reduced from last year's level.
Our attention remains focused on sales and margins and we continue to look very
critically at the cost base of the Group. Our balance sheet is strong with a
better than budgeted cash position and low gearing.
Enquiries:
Ensor Holdings PLC 0161 945 5953
Paul Parnham / Marcus Chadwick
Hanson Westhouse Limited 0113 246 2610
Tim Feather / Matthew Johnson