Pre-Close Trading Update
03 Julho 2003 - 4:02AM
UK Regulatory
RNS Number:1070N
Arriva PLC
03 July 2003
3 July 2003
ARRIVA PLC
PRE-CLOSE TRADING UPDATE
Arriva plc, the transport services organisation, announces that trading for the
six month period ended 30 June 2003 has continued in line with expectations,
consistent with the statement made at the Annual General Meeting on 25 April.
As usual, at the half year, we will be briefing analysts over the next few days.
Interim results, for the six month period ended 30 June 2003, will be announced
by the Group on 4 September 2003.
The disposal of the Group's Motor Retailing operations is complete subject to
the sale of three sites in the West Country. This process, which commenced in
October 2002, is on track to realise approaching #70 million, which as expected
is broadly in line with book value. The disposal programme will complete the
successful strategic repositioning of the Group.
Since recommencing the share buy-back programme, at the beginning of April, 2.4
per cent of the issued share capital, 4.7 million shares, have been purchased
for cancellation, representing a return of value, before stamp duty and
expenses, of #14.7 million. The number of shares in issue at 30 June was
196,347,169.
The Group, with a good mix of cash generative and growth businesses, is focused
on continuing to deliver value through the strategy of targeting acquisitions in
its chosen markets and undertaking share buy-backs whilst offering an attractive
dividend stream.
For further enquiries:
Arriva plc 0191 520 4000
Bob Davies, Chief Executive
Steve Lonsdale, Group Finance Director
Julian Evans, Director of Corporate Communications
Gavin Anderson & Company 020 7554 1400
Deborah Walter / Jo Godfrey
This information is provided by RNS
The company news service from the London Stock Exchange
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