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Abbeycrest sees FY in line

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    Date: Tuesday 27 Jan 2004

    LONDON (ShareCast) - Jewellery maker and designer Abbeycrest expects results for the year ended 28 February to be in line with market forecasts.

    It shares moved sharply higher as it added that initial stages of the business review at its main UK distribution business, G&A, are complete.

    The changes will leave G&A focused on UK and Irish sales and distribution.

    "In order to improve customer service, product development and working capital control, Abbeycrest considers it crucial to improve the way G&A deals with its manufacturing and supply base," said Abbeycrest.

    The number of suppliers will be reduced to a core of key supplier partners, Abbeycrest added.

    Shares in the group have risen over 50% in the last year.

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