REG-Roxboro Group PLC AGM Statement
Date/Range: 24-APR-2002
Short Abstract: THE ROXBORO GROUP PLC AGM STATEMENT
The Chairman of The Roxboro Group PLC, the international specialist electronics
company, Sir Alan Cockshaw, has today made the following statement on current
trading at the Company’s Annual General Meeting:
“In our preliminary statement issued on 18 March we expected profits in the
first half of the current year to be constrained by the continuation of recent
trends in weak markets and this continues to be the case.
“I am pleased to report that Solartron and Weston continue to trade as expected,
although there are some encouraging signs that air traffic volumes may be
recovering more quickly than had been anticipated, which could have a positive
effect on aftermarket sales.
“Market conditions in the US traffic market have become more difficult as
utility subsidies have been temporarily suspended and pricing pressures
increased. Dialight, however, has a very strong market position in the US, now
enhanced by further investment in improving manufacturing operations and a
growing range of products. These factors, together with the recent acquisition
of Garufo, to spearhead the group’s entry into the European markets, provide a
strong platform for a resilient response to competitive market conditions.
“In Dialight’s other business area, the signs of recovery in the Telecoms
industry are being maintained as the improving order intake indicates.
“The board remains confident of the group’s prospects.”
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