Trading Update
6 September 2007
Trading in the second half to-date has been generally weaker than expected. Margins in the Americas Industrial business have not yet recovered as expected and we have experienced shortfalls in volume in the hygiene businesses as well as suffering sales weakness in the industrial business in Brazil.
Consequently, Fiberweb now expects performance for 2007 to fall short of its previous expectations. The impact of the trading issues is expected to amount to up to £8m. In response, margin improvement programmes are being accelerated, though no further line or site closures are currently anticipated during the remainder of the year.
There will be a conference call being held for analysts and investors at 09.00am today. Please contact Weber Shandwick Financial for the dial in details on 020 7067 0700.