30/3/2006
The BSS Group PLC ('BSS' or the 'Group'), a leading distributor of heating, plumbing and pipeline equipment to the industrial and domestic construction and maintenance markets is issuing a trading statement today 30th March 2006, ahead of entering its close period and a meeting with analysts this evening.
The Group continues to make very pleasing progress with like for like sales during the second half continuing well ahead of the same period last year.
Trading remains in line with our expectations.
Our Industrial Division has maintained its sales momentum during the second half despite the tougher comparatives seen in the latter part of last year. Warrens, the four branch industrial business acquired for £14.0m on 16th December 2005, is being successfully integrated into the business and is performing in line with plan.
The Domestic Division has continued to make further market share gains during the second half with like for like sales strongly ahead. As anticipated, however, in a competitive pricing environment, our market share gains have led to reduced margins when compared to the same period last year. Our branch opening programme recommenced during the second half, bringing the total number of branches to 221.
Price Tools, the national distributor of hand held power tools was acquired on 9th March 2006 but is not expected to have a significant effect on this year's results. This acquisition is expected to be earnings enhancing to BSS in the first full year after completion.
The Group's announcement of its preliminary results for the year ended 31st March 2006 will be on 30th May 2006.
For further information, please contact:
The BSS Group PLC
Gavin Slark, Chief Executive
Roddy Murray, Finance Director
Tel: 0116 - 256 7006
Hogarth Partnership
Andrew Jaques
Rachel Hirst
Charlie Field
Tel: 020 - 7357 9477