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Grafenia plc - AGM Statement

RNS Number : 9374V
Grafenia plc
27 July 2018
 

27 July 2018

 

Grafenia plc

("Grafenia", the "Group" or "Company")

 

AGM STATEMENT

 

Jan Mohr, the Chairman of Grafenia plc (AIM: GRA), will deliver the following update at the Annual General Meeting (AGM) to be held at 11.30am in Liverpool today.

 

Trading update

In the first quarter, trading has been in-line with our internal budgets. The pricing environment for litho print remains a challenge, particularly in our trade channels.

 

We've continued to expand our Nettl network both in the UK and overseas. We now have over 200 Nettl locations around the globe, with over 165 in the UK and Ireland. We're also pleased to announce that the first Nettl partner has signed in Australia.

 

We recently completed the acquisition of AG Signs & Print Limited and welcome Martin Baily and his team to the Grafenia family. The integration work has started. We plan to combine it with our Nettl of Exeter team and establish a new Nettl Business Superstore.  We are keen to pursue further acquisitions of sign businesses around the UK.

 

Environmental update

Printed business cards remain one of our top revenue items. Our Luxury and StarMarque spot gloss ranges are our bestsellers, both of which are matt laminated. Single-use plastics have had a lot of attention recently and we've evaluated how we can reduce our usage.

 

From 1st August 2018, we are switching all laminated products to use a new bio-degradable film. This material looks and feels like traditional lamination. However, at the end of its useful life, if discarded in the environment, it naturally bio-degrades and breaks down within 2-18 months. This new Bio-laminate will be used across our entire range of business cards, folders, booklets, flyers and menus. We continue to look for other ways we can be better.

 

We next intend to update the market with a detailed Interim release on Monday 5th November 2018, unless we have reason to announce something sooner.

 

 

For further information:

Grafenia plc

Peter Gunning (CEO)

Simon Barrell (FD)

 

 

07973 191 632

07850 934 204

Allenby Capital Limited (Nominated Adviser and broker)

Virginia Bull / Liz Kirchner / Nicholas Chambers

 

0203 328 5656

 


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Market: AIM
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