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Audit Committee
David Bramwell (Chairman)
Don Wilson
Remuneration Committee
Don Wilson (Chairman)
David Bramwell
Ian Brodie
Nomination Committee
Don Wilson (Chairman)
David Bramwell
Ian Brodie
12 Sep 2008 - AGM Trading Update
INTELEK plc
AGM TRADING UPDATE
At the AGM, due to be held later today at 10.30 a.m, the Chairman, David Bramwell will make the following comment on current trading:
"During the first five months of trading in our current financial year, the Group performed in line with our expectations.
"Paradise Datacom, as expected, started strongly and should deliver a first half performance close to last years level which will place them considerably ahead of their internal budget. We expect the performance during the second half to be even better, reaping the benefits of increased sales from new products and our increased representation in the
"We expect Labtech to perform in line with last year’s break-even for the first half. Performance would have been noticeably better but for a client induced rescheduling of a major phased array radar programme by almost six months, albeit with expectation of a higher overall programme value. We expect an up-turn during the second half similar to last year.
"CML started the year where it left off last year and, after five months, its performance is comfortably ahead of the previous year. First deliveries under the initial part of the Joint Strike Fighter composites programme have commenced. A commitment has also been received for up to £600,000 of grant support towards CMLs three year composites investment programme. CML should show a significant improvement in the current year.
"At this stage, I anticipate an improvement in overall performance in the half year and will update shareholders on the outlook for the year as a whole at the Interim stage."
For further information, please contact:
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INTELEK Ian Brodie (Chief Executive) |
+44 (0)1793 827000 |
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BREWIN DOLPHIN INVESTMENT BANKING Sandy Fraser Neil McDonald |
+44 (0)845 213 4217 |
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BUCHANAN COMMUNICATIONS Charles Ryland Isabel Podda |
+44 (0)20 7466 5000 |
