AUTOLOGIC HOLDINGS PLC
(“AutoLogic”)
23 January 2006
Pre-close period trading update
AutoLogic Holdings plc (“AutoLogic” or “the Company”) will as usual be reporting its preliminary results for the full year to the end of December 2005 in late March 2006. Prior to entering its close period, the Company is issuing the following trading update.
Trading across Europe continued to be challenging in the second half of 2005. However, new contract wins in the UK have helped to broadly maintain revenues,while a continued focus on cost reductions has helped to limit margin pressure. Results for 2005 are expected, therefore, to be in line with market expectations.
Discussions continue with a view to extending or replacing the Group’s existing banking facilities in advance of their expiry on 30th April 2006.
The following Board changes are also being announced today, effective immediately:
- Neil Johnson joins the Board as a Non-Executive Director;
- Chris French, who has been Senior Independent Non-Executive Director since May 2003, remains on the Board and hands over as Senior Independent Non-Executive Director to Neil Johnson;
- Roland Bellande is stepping down from the Board in order to focus on his professional interests in France;
- Gilles Guinchard, Group Chief Executive (Continental Europe), is stepping down from the Board in order to focus on the Company’s French subsidiary, Walon France.
| John Merry Chairman |
Tel: 020 7420 0555 | |
Press: Stephen Davie College Hill |
Tel: 020 7457 2020 | |
Investors: Neville Harris IRFocus |
Tel: 020 7593 4000 |