AMR Armour Grp

 

TIDMAMR 
 
RNS Number : 1689G 
Armour Group PLC 
28 January 2010 
 

Armour Group plc ("Armour" or the "Group") 
 
 
AGM Statement 
 
 
Armour Group plc, the UK's leading consumer electronics group focused on the 
in-car communication and entertainment and home entertainment markets is holding 
its Annual General Meeting at 12.00 today.  George Dexter, Chief Executive, will 
make the following statement:- 
 
 
"I am pleased to report that the Group has made a good start to the new 
financial year with both sales and operating profits being well up on last year 
after the first four months to 31 December 2009. 
 
 
However, the poor weather conditions at the beginning of January in the UK have 
caused severe disruption to the Group's operations. Whilst weather conditions 
have improved, the resulting congestion in our supply chain, particularly at the 
UK ports, is likely to continue to impact our trading until the end of February 
2010 at which time the backlog of inbound containers is expected to have 
cleared. 
 
 
Our markets have shown steady improvement over the past six months and the new 
products launched in the run up to Christmas, particularly our QTV flat screen 
sound system, have performed well and exceeded our expectations.  In January, 
the Group exhibited for the first time at the Consumer Electronics Show in Las 
Vegas. The response to our new innovative products on display was very 
encouraging with considerable interest from a number of potentially large 
customers in North America. 
 
 
We are conscious that the economic recovery remains fragile and there continues 
to be considerable caution within our customers in our core markets of retail, 
house building and automotive.  However, we do expect the recovery in these 
markets to progress over the coming months, albeit on a tentative basis, with 
the Group positioned to benefit from the improvement, enhanced by the new 
products we will be launching through course of 2010.  Overall, the Board's 
outlook remains cautiously optimistic and despite the disruption caused by the 
January weather, we expect to meet the current market expectations for our 
financial year to 31 August 2010." 
 
 
 
 
 
 
 
 
Further Details: 
 
George Dexter                               Armour Group PLC 
Tel:     01892 502700 
John Harris 
 
Geoff Nash                                    FinnCap 
           Tel:    020 7600 1658 
Stephen Norcross (broking) 
 
 
Trevor BassThreadneedle Communications    Tel:020 7653 9850 
 
 
28 January 2010 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 AGMEAXFKALAEEFF 
 

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