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Strong performance from Dawson's Knitwear division in 2007

27
Jun '08
Dawson's Barrie knitwear division performed strongly last year, despite disappointing results for the company as a whole.

Commenting on the preliminary results for the year ended 29 December 2007 Andy Bartmess, chief executive said: “Dawson International's financial performance during the past year can only be described as deeply disappointing.

However, these financial results mask real progress in key areas of the business, which the Board believes will strengthen its position and lay a foundation for improved future performance.

“Each division has made a positive start to trading in 2008. In particular, the year to date results of the Spinning and Home Furnishings divisions are both much improved compared with 2007.

This is due to excellent progress made in these divisions during the year and also, in the case of the Spinning division, reflects more favourable exchange rates.

Given stable market conditions in the second half, it is possible that we could see each of Dawson's operating divisions deliver a positive operating profit in 2008.

The focus will remain on returning the Group to sustainable profit with each business contributing an acceptable return on capital employed.

The Board is conscious of the current volatility in the global economic cycle and will be monitoring market conditions closely.”

The Annual Report and Accounts for the year ended 29 December 2007 will be despatched to shareholders on 30 June 2008 and will also be available on the Company's website.

The Annual General Meeting of the Company will be held at Lochleven Mills, Kinross, KY13 8GL on 29 July 2008 at 12 noon.

Dawson International PLC


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