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Press Release |
5 February 2010 |
Turbotec Products Plc
("Turbotec" or "the Company")
Trading Statement
Turbotec Products Plc (TRBO.L), the designer and manufacturer of high performance, high quality heat exchangers and Tru-Twist® heat transfer tubing, notifies the market of the following information in advance of the announcement of its results for the nine months ended 31 December 2009 ("the Period").
The Company will be reporting turnover for the Period of $14.7 million, with turnover for the third quarter of $4.9 million similar to the level recorded in the preceding three quarters. However, a combination of a deteriorating gross margin during the third quarter and further legal and other advisory costs incurred means that the Company will be reporting a profit before tax of $0.76 million for the Period. The board anticipates that underlying trading for the fourth quarter will return towards the levels experienced during the first half of the current financial year. However, on this basis, trading for the full year will still be below the board's expectations.
More detailed commentary will be provided in the Company's results for the Period expected to be released on Tuesday, 16 February 2010.
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For further information please contact:
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Turbotec Products Plc
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Sunil Raina, Managing Director
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Tel: +1 (860) 731 4200
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Robert Lieberman, Finance Director RLieberman@turbotecproducts.com
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www.turbotecproducts.com |
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Evolution Securities Limited |
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Joanne Lake / Peter Steel |
Tel: +44 (0) 113 243 1619
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Media enquiries:
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Abchurch Communications |
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Sarah Hollins / Nick Probert |
Tel: +44 (0)20 7398 7715 |
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