News

Wagon says trading in line

18 August 2008 15:46:00

Troubled motor components firm Wagon said trading has remained broadly in line with the expectations but warned of volumes being hit by the increasing economic uncertainty.

"The board remains alert to the potential for margin pressures from raw material price volatility and the increasing economic uncertainty affecting market volumes," said the group.

The group said as a result of its recent refinancing initiatives, there has been a significant improvement in the financial position of the company since 31 March 2008.

"The completion of the property disposal, brings to a conclusion the refinancing initiatives announced on 4 June 2008, and enables us to confidently pursue our growth strategy," said chief executive Jurgen von Heyden.

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