Pre Close Period Statement
23/12/2002
The Board expects that the underlying earnings per share for the year ended 31 December 2002 will be in line with the current market forecasts and therefore consistent with the Group’s prospects expressed at the time of the interim results announcement in September 2002. This is despite Charter’s operating businesses having experienced lower levels of activity in the latter part of 2002 than earlier in the year.
At this stage, the underlying trading environment in which the group operates is not expected to improve in 2003. Despite this poor economic outlook restructuring initiatives should provide progressive benefits next year. As such, the Board anticipates that the underlying earnings per share for 2003 will be broadly in line with those for 2002, provided market conditions do not deteriorate even further.
Contact
Andrew Fenwick, Brunswick +44 (0) 20 7404 5959