HAMP Hampson Ind.

TIDMHAMP

RNS Number : 0593B

Hampson Industries PLC

10 April 2012

10 April 2012

Hampson Industries PLC

Trading update

Hampson Industries PLC ("Hampson" or "the Group"), the international aerospace group, today issues the following trading update.

In its Interim Management Statement issued on the 14 February 2012 the Group advised that issues had been identified during the testing and customer approval process for the Group's largest tooling order which meant that some deliveries were expected to move from fiscal year April 2011-March 2012 to fiscal year April 2012-March 2013 and also that the Group was assessing the overall effect on revenue and profit in light of on-going discussions with the customer.

While these discussions are continuing, the Board now estimates that the Group's reported operating profit for April 2011- March 2012 will be materially lower than prior expectations. This is principally due to the expected delay in deliveries occurring and to both higher than previously anticipated costs as a result of these issues and a reassessment of future costs to complete the order. The final outcome is dependent on the conclusion of the technical and commercial discussions with the customer.

Following precautionary negotiations with existing lenders in March, the Group has successfully obtained a disapplication of certain of its March 2012 covenant tests.

In the Interim Management Statement, the Board also announced that it believed it to be prudent to review actively all financing and strategic options, including a sale of the Group and it therefore announced the commencement of a formal sale process. Discussions are continuing with a number of parties with regard to a potential sale of the Group.

End

For further information:

Hampson

   John Poulter,     Non-Executive Chairman           +44 (0) 1384 485 345 
   Norm Jordan,     Chief Executive                        +1 972 893 2190 
   Ram Swamy,     Finance Director                      +44 (0) 1384 472 946 

M:Communications

   Ann-marie Wilkinson/Maria Souvorov                  +44 207 920 2330 

Notes to editors:

Hampson Industries' operations are structured into two business segments, serving the global commercial and military aerospace markets from manufacturing facilities in the UK, North America and India.

Hampson is a world leader in the design and manufacture of close tolerance tooling and assembly systems for large composite and metallic aero structures.

Hampson is listed on the main market of the London Stock Exchange (Symbol: HAMP). For more information on Hampson: www.hampsongroup.com

A copy of this announcement will be available at www.hampsongroup.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTEBLFFLZFLBBQ

Hampson Ind. (LSE:HAMP)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024

Hampson Ind. (LSE:HAMP)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024