MCOZ Cosentino Regs

    RNS Number : 6813J
  Cosentino Signature Wines plc
  08 December 2008
   

    8 December 2008


    Cosentino Signature Wines plc

    Trading update

    Cosentino Signature Wines plc, the AIM listed, ultra-premium brand Napa Valley based wine company, provides the market with an update of
current trading.

    Since experiencing record trading through to September 2008, the global credit crunch had taken hold and the business has seen tough
trading conditions in its core retail and wholesale divisions; the sales for October were below average for equivalent prior periods and
sales in November suffered a steep decline. Despite a significant exchange related benefit due to the strengthening US dollar, the Board has
concluded that the outcome for the year ending 31 December 2008, will be below current market expectations.

    Larry Soldinger, Chairman, said:

    "The current global uncertain economic climate has meant that, in line with the rest of our industry, we have seen a sudden and sharp
decline in sales for the last quarter of the year, especially in the month of November.

    "With this in mind, we are continuing to take the necessary steps needed to further reduce our cost base and improve our operating
efficiencies. We are also reevaluating the Company's debt position. With the current uncertainty of the Christmas trading period now upon
us, we are focusing on assessing our strategies for 2009."   

    Results for the year ended 31 December 2008 will be announced in March 2009.

    - Ends - 

    For further information please contact:

    Cosentino Signature Wines plc
    Larry Soldinger, Chairman - 020 7831 3113 (C/O FD)

    Seymour Pierce
    Jonathan Wright - 020 7107 8000

    Financial Dynamics
    Jonathon Brill / Billy Clegg / Ed Westropp - 020 7831 3113



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