Abbeycrest Announcements

AGM & Interim Management Stat

11 August 2008 15:16:09



RNS Number : 0889B Abbeycrest PLC 11 August 2008  
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Abbeycrest plc
11 August 2008
For immediate release
ABBEYCREST PLC

AGM & Interim Management Statement
Abbeycrest plc, the UK's leading jewellery manufacturing and distribution business, announces its first interim management statement for the year ending 28 February 2009, and that it held its Annual General Meeting on 11 August 2008 at 2.00pm.

All Resolutions put to the meeting were duly passed by shareholders, details of which are set out in the Notice of Annual General Meeting on page 79 of the Annual Report and Financial Statements 2008 ("Annual Report") released on 30 June 2008 and submitted to the UK Listing Authority for inspection at its document viewing facility, a copy of which can also be found on the Company's website www.abbeycrest.co.uk. Details of the proxies submitted in respect of the resolutions can also be found on the website. 

In the Group's Annual Report, Management reported on the business review and restructuring programme primarily being undertaken to improve profitability and working capital levels.

The progress reported in the Chairman's Statement set out in the Annual Report has continued.  The cost-base reduction programme is proceeding to plan and, compared with the same period last year, debt levels continue to be reduced, despite a significant relative increase in the price of gold.

Whilst our main markets remain challenging, sales performance to date is on plan. As always, the key pre-Christmas season will be crucial for the Group's performance, particularly given the current economic climate. We are continuing with the next phase of our change programme to capture greater market share through considered marketing and product innovation.

- Ends -
For further information:

Abbeycrest plc

David Chapman, Group Finance Director
Tel: +44 (0) 113 284 5702

www.abbeycrest.co.uk

Evolution Securities

Joanne Lake/Angus Gladish
Tel: +44 (0) 113 243 1619

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