Trading update (8231J)
05 Julho 2011 - 12:23PM
UK Regulatory
TIDMHTT
RNS Number : 8231J
Hot Tuna (International) plc
05 July 2011
5 July 2011
Hot Tuna (International)
PLC
("Hot Tuna" or "the Company")
Trading update
Hot Tuna plc, a leading surf wear and fashion brand, would like
to provide an update on trading following the financial year end to
30 June 2011.
As has been widely reported in the press, retail conditions in
our main markets of the UK and continental Europe, the US and
Australia have been challenging with poor consumer confidence which
has impacted on our ability to drive sales growth in the second
half of the year, exacerbated by the cancellation of a large US
order immediately before the year-end which will mean revenue for
the year will be below market expectations. However due to tight
controls over costs, loss before tax will still be in line with
market expectations.
Geoff O'Connell, CEO, commented:
"Whilst we are disappointed with the performance in the second
half of the year, we have made good progress in re-focusing the
Company with an increased number of distributors now in place and
the imminent launch of our online transaction website later this
month which we expect will drive an increase in sales for the
current financial year.
Furthermore, we are attending Bread & Butter, a key trade
show in Berlin, later this week where we will meet a number of
major UK and European retailers who have expressed interest in our
new collection.
The Company has also secured a significant order in Australia
and new orders from the Netherlands, Cook Islands and UAE which
will provide a boost to sales for the new financial year."
Enquiries:
Hot Tuna (International) PLC Tel: 020 7440 0644
Geoff O Connell
Pelham Bell Pottinger Tel: 020 7861 3885
Lucy Frankland/ Dan de Belder
Seymour Pierce Limited Tel: 020 7107 8000
Mark Percy/ Catherine Leftley
Allenby Capital Ltd Tel: 020 3328 5656
Nick Naylor/Alex Davies
This information is provided by RNS
The company news service from the London Stock Exchange
END
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