HLS Helesi

    RNS Number : 0573A
  Helesi PLC
  29 July 2008
   

    29 July 2007 

    Helesi plc
    ("Helesi" or the "Company")

    Trading Update 

    Helesi plc (AIM: HLS), the Greece and UK based waste management products manufacturer and services supplier, announces a trading update
for the six month period to 30 June 2008. 

    Trading for the first half of 2008 continued to perform well with revenues expected to be approximately EUR29 million compared to
EUR22.6 million in the same period last year, an increase of 28%. The profitability was in accordance with our expectations. 

    Helesi's manufacturing operations have continued to operate at near capacity, reflecting strong demand from a broad range of customers.
HDPE, the Company's principal raw material, increased to an all time high in the period. However this has not impacted margins materially,
as the Company has been able to pass on these costs.  

    Services continue to grow at the satisfactory pace projected. In Cyprus, Helesi will conclude the construction of the Waste Transfer
Station by the second half of 2009 and expects to subsequently start the operation of this 10 year concession. Helesi now owns 100% of this
contract as it has concluded the acquisition of the 30% minority stake in June. In Greece, Helesi continues to successfully expand in more
regions, maintaining its momentum and its position as a market leader. 

    In addition, the vehicles and accessories division, acquired in November 2007, had a strong first half. Revenues from this seasonal
division are approximately EUR8 million in the first six months of the year and along with the strong pipeline for the business ahead, the
Company expects to comfortably meet its targets.

    The ambitious EUR83m capital expenditure program is now over 80% complete as the two main projects - the new Komotini factory and the
Italian plant - are expected to be operational on time. Revenues from Italy are expected from October and at the beginning of 2009 further
revenues are expected from the expansion project in Komotini.  

    The high level of investment has been funded from committed bank facilities and net borrowings stand at around EUR55 million as at 30
June, in line with projections. Helesi expect this to be the peak of its borrowings as the Company anticipates some EUR20 million of grants
- already awarded - to be received over the next 18 months and reduce debt.  

    Revenue visibility for 2008 currently stands at 75% and Helesi expect outturn for the full year to be in line with our aggressive growth
expectations.

    Sakis Andrianopoulos, Chief Executive, commented: 

    "The global focus on the environment and the knock-on effects this has for the waste management industry, continues to dictate strong
demand for both our products and services. Our plans for expansion are on budget and schedule and we are currently evaluating further
opportunities for expansion. 

    "Helesi is performing well and we look forward to the future with confidence."

    For further information, please visit www.helesi.com or contact:

 Helesi PLC                             + 30 210 60 48 393-4
 Sakis Andrianopoulos, Chief Executive
 Apostolos Binomakis, Finance Director  binomakis@helesi.com

 Tavistock Communications               + 44 20 7920 3150
 Simon Hudson
 Paul Youens
 Gemma Bradley                          gbradley@tavistock.co.uk

    About Helesi

    Helesi is a specialist designer and manufacturer of plastic products mainly for use in the waste management industry and a provider of
waste management services. The Group has production facilities located in Greece and the UK and is constructing a third in Italy.

    Its activities comprise:
    *     the design and manufacture of plastic waste containers including 2 and 4 wheeled bins, pre-sorting bins and the full range of EN
840 standard containers;
    *     the provision of waste management services (waste collection, container washing, street sweeping and recyclable materials
collection).
    *     the design and manufacture of material handling plastic products (pallet boxes and crates) for agricultural, domestic and
industrial use and other injection-moulding plastic products such as fish crates, and stadium seats;
    *     the supply of special vehicles and equipment for the waste management industry; and
    *     the recycling of used tyres

    Demand for Helesi's products and services in developed waste management markets is driven by increasingly stringent regulation on waste
management and recycling. Growing demand is also being experienced in developing countries, which are looking to establish centralised and
orderly waste management services. Helesi has developed a strong market position in both the developed waste management markets of Western
Europe as well as in the high growth markets of South-eastern Europe, the Mediterranean and the Middle East. With sales in 52 countries, the
Company derives more than 70% of its waste container revenue internationally.

This information is provided by RNS
The company news service from the London Stock Exchange
 
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