Accsys Technologies PLC issues the following Interim Management Statement.
There have been a number of changes within the business during the period. Firstly, Paul Clegg was appointed as Chief Executive following Finlay Morrison standing down from the Board.
We have carried out a detailed review of our cost base to ensure it is appropriate for the current business environment, resulting in a significant headcount reduction.
Our Accoya® production facility in Arnhem, The Netherlands, is currently undergoing a major automation project, which will improve efficiency and reduce operating costs and headcount further.
In the 3 month period to 30 June 2009, sales revenue from Accoya®, increased by 51% compared to the same period last year. We are also pleased to announce that following the successful completion of the first heavy traffic road bridge made of Accoya® in Sneek, The Netherlands, we have recently been awarded the contract to supply Accoya® for the construction of a second bridge.
Paul Clegg commented, ”Whilst the trading environment continues to be challenging, the changes we are making will ensure we have a more efficient and focused business moving forward".
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