SC. Supercart

 

TIDMSC. 
 
RNS Number : 2785E 
Supercart PLC 
17 December 2009 
 

 
 
17 December 2009 
 
 
Supercart plc 
("Supercart" or the "Company") 
 
 
Trading Update 
Supply Agreement with Target Corporation 
 
 
Supercart, the UK company involved in the design, marketing and distribution of 
plastic shopping trolleys, is pleased to provide a further update to trading in 
the financial year ending 31 December 2009. 
 
 
As stated previously the Company has made good progress this year in the United 
States with a number of new retailing customers following the purchase of Rehrig 
International in March.  Following the first major order from Target 
Corporation ("Target"), announced in October, Supercart is pleased to confirm 
that it has entered into an agreement with Target to provide them with a range 
of shopping trolleys, hand baskets and related repair and replacement parts. 
The four year agreement is effective until 31 December 2013. 
 
 
The Board is pleased with the US market's reception of the re-launched Rehrig 
product range.Trading conditions for US retailers have been challenging through 
much of this year although recent signs are that conditions are now improving. 
This has led to an upturn in orders and enquires, although this late increase in 
activity has meant orders from a number of potential customers have been 
deferred from this important last quarter trading period to the first quarter of 
2010. As a consequence, while the Company has a strong pipeline of 
enquiries, sales in the US for 2009 will not reach the level management 
originally anticipated. 
 
Trading in South Africa has continued ahead of budget and the Company expects to 
report a strong performance for the year. The Company has also secured its first 
orders in the Australian market. 
 
 
Sales in Europe have been disappointing but the Company has restructured its 
European operations during the second half of 2009 and Supercart has embarked on 
a number of new initiatives which are already beginning to bear results. The 
Company is pleased to announce that it has secured its first sales to one of the 
largest French retailing groups, through a joint project with the French 
distributor Caddie. The Board anticipates that further European product sales 
will be driven through this channel. 
 
 
 
 
Mike Wolfe, CEO of Supercart, said: "We are very pleased to announce this 
significant agreement with Target, one of the most important retailers in the 
North American market.  We believe that the agreement shows that we are 
beginning to build long-term relationships in the US and that our strategy for 
growth in the region is achievable.  Conditions remain challenging but we are 
confident that Supercart can continue to make progress." 
 
 
 
 
+----------------------------------------------------+--------------------------+ 
| Enquiries:                                         |                          | 
|                                                    |                          | 
+----------------------------------------------------+--------------------------+ 
| Supercart plc                                      | 01732 459898             | 
| Chief Executive                                    |                          | 
| Mike Wolfe                                         |                          | 
|                                                    |                          | 
+----------------------------------------------------+--------------------------+ 
| Charles Stanley Securities                         | 020 7149 6000            | 
| Nominated Adviser and Broker                       |                          | 
| Russell Cook/Ben Johnston/Carl Holmes              |                          | 
|                                                    |                          | 
+----------------------------------------------------+--------------------------+ 
| Tavistock Communications                           | 020 7920 3150            | 
| Jeremy Carey/Andrew Dunn                           |                          | 
|                                                    |                          | 
+----------------------------------------------------+--------------------------+ 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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