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Trading Update 5 September 2019

John Foster, Chief Executive said:

“The long-term outlook for all the group’s businesses remains strong. However with the costs of strengthening the operational management teams across the group, the absence of the one-off credits reported last year, plus the uncertainty caused by Brexit and wider geo-political instability, the near term outlook, in line with analysts’ forecasts, is for a consolidation of earnings in the current year at a level below that seen in 2018-19.

Once through the choppy waters we foresee in the near term, with its strong balance sheet and embedded market positions across its diverse trading companies, your board remains confident that the group remains well placed to deliver growth over the medium-term.”

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