Tex Holdings PLC Trading Update (5024N)
24 Settembre 2019 - 3:28PM
UK Regulatory
TIDMTXH
RNS Number : 5024N
Tex Holdings PLC
24 September 2019
This announcement contains inside information for the purposes
of Article 7 of Regulation 596/2014 ("MAR"). Upon the publication
of this announcement via a regulatory information service, this
information is now considered to be in the public domain.
Tex Holdings plc ('the Group' or 'the Company') makes this
announcement in order to provide an update on the status of its
auditors and a trading update for the current financial year.
The Company is pleased to announce the appointment of Price
Bailey LLP as auditors of Tex Holdings plc with immediate
effect.
Tex ATC Division has experienced an upturn in trading, following
the receipt of funds in respect of delayed contracts to supply five
air traffic control rooms to various airports in Nigeria. Tex ATC
Division also continues to support the Aircraft Carrier Alliance in
the successful commissioning of HMS Prince of Wales and a letter of
credit has been received in respect of the supply of glass and
wipers for an Aircraft Carrier for a Sovereign Navy.
The Plastics Division continues to trade successfully,
maintaining previous performance levels.
Within QK Honeycomb Products, the new edge forming machine has
been successfully installed and commissioned in the purpose-built
building in Brigg. Training of operators is currently being
undertaken and we expect to commence volume production in October
2019.
Eurotex has a contract for a major engine overhaul for a Middle
Eastern Navy and continues with contracts supporting the Royal Navy
in the UK.
G&M TEX results reflect a significant improvement on 2018,
with a current order book in excess of GBP2 million. They have
recently been advised that the USN has issued a letter of intent to
purchase four further emergency generator sets following the
successful supply of a unit this year.
BSP International Foundations and Tex Engineering are trading as
expected, following a recent cost reduction exercise.
In summary, the Board is pleased to announce that the Group
currently has a record order book in excess of GBP12 million, part
of which will be delivered in 2020. The Board remains confident in
the ongoing trading performance of the Group.
Enquiries: C.A. Parker, Company Secretary
01473-830144
24th September 2019
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Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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