At the Huveaux PLC AGM today, the Chairman, Kevin Hand, will make the following statement:
‘We have seen demanding trading conditions in our markets during first 5 months of 2009. Nevertheless, Huveaux has traded in line with expectations and is well set for a strong first half result.
Both the Education and Political Divisions have shown good progress in the first half of the year. The strategy of concentrating on organic growth and improvements in the market position of both of our Divisions is clearly bearing fruit.
The cost reduction exercise within Education following the abolition of SATs at Key Stage 3 in October 2008 is delivering the expected savings. The Political Division continues to benefit from its increasingly diversified product portfolio and has seen good growth in the Events and Digital parts of the business. While 2009 will be a difficult year for Media companies generally, the board believes the recent developments within Huveaux, and especially the new agenda for Political Reform in Westminster, will further enhance the underlying value of the Group.
The Group’s trading remains significantly weighted to the second half of the year. The Board is cautious regarding conditions in the wider economy but remains confident of the full year results.’
For further information, please contact:
Huveaux
Rupert Levy
020 7245 0270
Brewin Dolphin (NOMAD)
Sandy Fraser
0845 213 2072