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RNS Number : 4099T 
Hot Tuna (International) plc 
04 June 2009 
 

 
 
 
 
4 June 2009 
Hot Tuna (International) PLC ("Hot Tuna" or "the Company") 
Trading Update 
On the 27th April 2009, the board of Hot Tuna announced that it had raised 
GBP300,000 through a placing to assist with production financing of existing 
firm orders and to pay down creditors. 
 
 
Since the placing, the funds raised have been used to complete outstanding 
orders for Europe,  America, Australia and United Arab Emirates and fund the 
development of Hot Tuna's full Spring/Summer 2010 range. 
 
 
UK and European deliveries focused around the adult men's and women's surfing 
apparel with the bulk of the orders going to Debenhams UK, Sportscheck in 
Germany plus a number of independent surf retailers. Hot Tuna products are 
currently retailing in 45 Debenhams stores in the UK and continue to outsell on 
a like for like basis several well known surf brands. 
 
 
Debenhams in the United Arab Emirates continues to take deliveries of Hot Tuna's 
adult men's range. 
 
 
In Australia Hot Tuna has just closed its Spring/Summer 2010 orders with 
national retailers Myer and David Jones in addition to several other specialty 
surf wear retailers. Spring/Summer Australian orders total A$494,000, which is 
in line with the Company's expectations, and are primarily only associated with 
the Company's children's wear range. On the back of successful sales in the 
United States market, Hot Tuna will launch womens swimwear into Australia next 
year as the company continues its planned roll out of the full product range in 
all regions. 
 
 
The United States has historically been the most difficult market for Hot Tuna, 
with high operating overheads and little market penetration to date.  In the 
past few weeks, the Company has significantly reduced its USA operating 
overheads and is focusing on its successful penetration of the women's swim wear 
market. This has been highlighted by re-orders from Delias, Diane's Swimwear and 
Victorias Secret. Hot Tuna intends to expand the USA business to cover the 
entire Hot Tuna catalogue over the course of the coming year. 
 
 
Geoff O'Connell, Hot Tuna's Executive Director commented: 
 
 
"The trading environment continues to be difficult, however, over the past few 
months we have been working hard to simplify the corporate structure and 
significantly reduce the operating costs, which has resulted in a much leaner 
and higher gross margin business. The Company will continue to expand on its 
profitable businesses and ranges in the various continents; women's swimwear in 
the USA, children's wear in Australia and adult men's and women's ranges in 
Europe and the UAE. 
 
 
The continuing restructuring of the Group has now reduced global employee 
numbers and the Directors believe that its focus on better designs and 
fabrications, while still catering for its core branded surf-retailers, with its 
iconic, logo-driven offerings, is continuing to secure orders from key 
department stores. 
 
 
Inevitably delays in securing financing for the Spring/Summer 2009 range has 
impacted turnover  for the year to June 2009 which will be lower than we had 
originally forecast, with a corresponding impact on profits. However, the 
actions we have taken in the last few months to further reduce the costs of the 
business, as well as the high number of orders received for the Spring/Summer 
2010 collection show us there is still a high demand for our unique product 
offering and we go forward with confidence." 
 
 
 
 
+--------------------+--------------------+------------+----------------------------+ 
| Enquiries:         |                    | 
+--------------------+--------------------+ 
| Hot Tuna (International) PLC                         | Tel: 020 7016 5100         | 
| Kiran Morzaria / Geoff O'Connell                     |                            | 
+------------------------------------------------------+----------------------------+ 
| Pelham PR                                            | Tel: 020 7337 1512         | 
| Kate Catchpole                                       |                            | 
|                                                      |                            | 
+------------------------------------------------------+----------------------------+ 
| Seymour Pierce Limited                               | Tel: 020 7107 8000         | 
| Mark Percy / Christopher Wren                        |                            | 
+--------------------+--------------------+------------+----------------------------+ 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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