Trading Statement
15 Octubre 2009 - 1:00AM
UK Regulatory
TIDMAXS
RNS Number : 7859A
Accsys Technologies PLC
15 October 2009
+----------+------------+
| 15th | AIM: AXS |
| October | |
| 2009 | |
+----------+------------+
| | NYSE |
| | Euronext |
| | Amsterdam: |
| | AXS |
+----------+------------+
Trading Statement
Accsys Technologies PLC ("Accsys" or "the Company")
Accsys today provides the following trading update for the six month period to
30 September 2009, ahead of the announcement of its interim results.
The Company expects that revenues for the first half of the year will be lower
than in the corresponding period last year.
The decrease in revenues is largely due to reduced licensing fees from Diamond
Wood, our licensee in China, and from Al Rajhi, our licensee in the Middle East.
Progress on the Diamond Wood plant is linked to their fund raising process which
is currently underway. Development on the Al Rajhi plant has been slower than
anticipated due to the economic climate, however the Company is confident that
progress will be made during the second half of the year. The recent increase in
the Al Rhaji group's shareholding of Accsys to 9.2% is most welcome.
The Company experienced strong growth in Accoya wood sales in the first quarter
(up 51%), however sales in the second quarter have been impacted by the
temporary shutdown of the Arnhem plant, which was required to implement further
process improvements and an automated wood logistics system. These improvements
have now been completed, production has resumed and the resultant backlog of
sales orders will be met in the next quarter.
It is too early to give any indication of the results for the year to 31 March
2010. However, it is clear that they will be determined principally by the
extent to which progress is made by our licensees.
In addition, we have implemented a number of cost reduction schemes in the first
half of the year, the benefits of which will not be seen until the second half.
The Company has continued to focus on expanding its sales network and is pleased
to announce that it has reached agreement with a number of distribution partners
across the world. Details of the first of such arrangements with our
distribution partners in North America are being announced separately today. We
hope to be in a position to announce further distribution deals in the near
future.
Paul Clegg, Chief Executive Officer, of Accsys, stated, "The economic climate
has clearly had an effect on our licensing revenues but it is pleasing to see
the continued commitment to Accsys from both Diamond Wood and Al Rajhi."
- ENDS -
For further information, please contact:
+----------------+-------------------------------------+------------------+
| Accsys | Paul | +44 20 8150 8835 |
| Technologies | Clegg, | |
| PLC | CEO | |
| | Kevin | |
| | Wood, | |
| | CFO | |
| | | |
+----------------+-------------------------------------+------------------+
| Matrix | Stephen | +44 20 3206 7000 |
| Corporate | Mischler | +44 20 7653 9850 |
| Capital | Anu | |
| LLP | Tayal | |
| Threadneedle | Graham | |
| | Herring | |
| Communications | Josh | |
| | Royston | |
| | graham.herring@threadneedlepr.co.uk | |
| | josh.royston@threadneedlepr.co.uk | |
+----------------+-------------------------------------+------------------+
| | | |
+----------------+-------------------------------------+------------------+
| Citigate | Wouter | + 31 20 575 4080 |
| First | van de | |
| Financial | Putte | |
| B.V. | Laurens | |
| | Goverse | |
+----------------+-------------------------------------+------------------+
Notes to Editors:
Titan Wood Limited (www.titanwood.com) is a wholly owned subsidiary of the
Accsys Technologies PLC (www.accsysplc.com) group of companies. Accsys
Technologies PLC is listed on the London Stock Exchange AIM market, and on
Euronext Amsterdam by NYSE Euronext, under the symbols 'AXS'.
Wood Acetylation is a process, which increases the amount of naturally present
'acetyl' molecules in wood, thereby changing its physical properties. The
process protects wood from rot by making it "inedible" to most micro-organisms
and insects, without - unlike conventional treatments - making it toxic. It also
greatly reduces the wood's tendency to swell and shrink, making it less prone to
cracking and ensuring that when painted it requires dramatically reduced
maintenance.
Accoya Wood (www.accoya.info) is produced by using a patents-pending non-toxic
process that effectively converts sustainably grown softwoods and non-durable
hardwoods into what is best described as a "new wood species" via acetylation.
Distinguished by its durability, dimensional stability and, perhaps most
importantly of all, its reliability (in terms of consistency of both supply and
quality), Accoya wood is particularly suited to exterior applications where
performance and appearance are valued. Unlike most woods, its colour does not
degrade when exposed to sunlight. Moreover, the Accoya wood production process
does not compromise the wood's strength or machinability. The combination of UV
resistance, dimensional stability, increased coatings life, durability and
retained strength means that Accoya wood offers a wealth of new opportunities
to architects, designers and specifiers. Leading applications include external
doors and windows, shutters/shading, siding and cladding, decking, outdoor
furniture/equipment and glulam beams for structural use.
ACCOYA is a registered trademark owned by Titan Wood Limited
This information is provided by RNS
The company news service from the London Stock Exchange
END
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