Companies: ACR   

Jewellery manufacturing and distribution business Abbeycrest has rolled out a mixed post-Christmas trading statement. In the four months since 31 August, sales were 11% ahead. An 11.2% like-for-like rise was experienced within the UK distribution business in spite of cost price pressures, largely attributable to diamond price hikes, which continued to restrain profit growth. Therefore for the year ending 28 February 2001, profits are expected to be 'in line with those of last year'. Brown and Newirth, its first foray into the wedding ring market, is expected to experience its buoyant period from March to June, the main wedding ring selling season. As such, this recent acquisition is 'not expected to generate material profits' in the current year and its financing costs will be reflected in the full year results. On a more positive note, the group's South East Asian manufacturing operations continue to trade successfully and should generate 'significant future growth'. The board remained confident that 'recent initiatives will ensure its continuing growth and development'.

Abbeycrest	LSE	£2.08m	7.25p	-3.00p
Click here for interactive charting
Other company articles:
Abbeycrest starts getting it right			02/06/2004
Abbeycrest			12/05/2004
Abbeycrest			21/11/2001
Teething troubles sap Abbeycrest interims			21/11/2001
Gem price rises hit Abbeycrest			18/05/2001