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Trading statements

Tyman says early 2017 trading in line

12 May 2017 09:15

Tyman said trading from Jan. 1 to date has been in line with directors' expectations and provides the group with a solid start to the year.

It noted that this period typically saw lower seasonal levels of activity in the company's principal Northern Hemisphere end-markets.

On a reported basis, revenue for the four months ended 30 April 2017 increased by about 31% compared with the corresponding period in 2016.

"On a constant currency, like for like basis, revenue in the period was in line with 2016, the difference principally reflecting the contributions from acquired businesses and the sustained year on year strength of the US Dollar when compared against international currencies," said Tyman.

"Input costs continue to increase in the majority of the Group's markets with the impact on profitability being proactively managed through a combination of effective purchasing, price management and cost reduction programmes.

"Integration activities remain on track across the Group with good progress continuing to be made in delivering the committed 2017 synergy benefits."

CEO Louis Eperjesi said Tyman was well positioned for further progress in the remainder of the year.

At 9:15am: (LON:TYMN) Tyman share price was -0.5p at 347.75p

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