Pre-Close Statement

Thursday 28th August 2014

Connect Group PLC (“the Group”) a leading specialist distributor operating in three divisions; News & Media, Books and Education & Care, is today issuing its pre close statement for the twelve months ending 31 August 2014.

Connect Group PLC (‘Connect Group’ or “the Group”)

Since the previous update on 8 July 2014, the Group and each of its divisions have performed in line with management expectations and, as a result, Group underlying profit before tax is expected to be in line with recent guidance. Group basic underlying EPS is expected to be slightly ahead of recent guidance as a result of prior year tax credits being higher than previous management expectations. With respect to each division:

  • Connect News & Media: newspaper and magazine performance has continued at recent robust run rates. Media has performed in line with expectations
  • Connect Books: management actions are taking effect, and recent performance has stabilised in line with management expectations
  • Connect Education & Care: performance has been in line with management expectations through the peak trading period

There has been no change in the underlying financial condition of the Group since the half year ended 28 February 2014 and the Group continues to operate well within its new bank facilities.
The Group will announce its prelim results for the twelve months ending 31 August 2014 on 15 October 2014. An analyst briefing will be held at 9.30am on 15 October 2014 at the offices of Buchanan, 107 Cheapside, EC2V 6DN.

Note: The following definitions have applied consistently throughout Connect Group PLC results for FY13 and will continue to apply for FY14:
(1) Underlying results exclude non-recurring items and amortisation of acquired intangibles and include the results of acquired businesses from the date of acquisition and excludes results from businesses disposed in the prior period.

Enquiries:

Connect Group PLC    
Mark Cashmore, Group Chief Executive    Tel: 01793 563641
Nick Gresham, Chief Financial Officer
Buchanan
Jeremy Garcia / Gabriella Clinkard      Tel: 020 74665000

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Press Contact

For all enquiries concerning press information, please contact:

Kerrie Colford
Group Communications & PR Manager
Phone: 01793 563516
Email: media@connectgroupplc.com

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