Harvard International plc
Trading Update
Harvard International plc ("Harvard", "the Company" or "the Group") distributes digital media products in the UK and a broad range of consumer electronic products in Australia
Despite the continuing difficult global economic environment and challenging market conditions, demand for consumer electronic products, particularly digital media, has held up relatively well. As a result of this, together with the progressive benefits accrued through both a more focussed product range and operational restructuring, the Group expects that results for the current financial year, ending 31st March 2010, will be in-line with the Company's expectations.
As announced with the Interim results the management have been undertaking a Business Review and expect to report on this before the end of May 2010. The Business Review is expected to set out the road map for the Group's future commercial strategy and define an appropriate level of capital required to support the new commercial strategy.
The strength of consumer demand, in both UK and Australia remains difficult to predict and as such the Board remains cautious on the outlook for the next financial year.
2nd March 2010
ENQUIRIES:
Mike Ashley, Chief Executive Tel: 020 8238 7650
Colin Grimsdell, Finance Director Tel: 020 8238 7650
Anthony Parker, Analyst & Media Communications Tel: 07791 201 467
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