Trading Update


 

TIDMLGNG 
 
RNS Number : 3245P 
Legion Group PLC 
14 July 2010 
 
                                Legion Group plc 
                        ("Legion Group" or the "Group") 
 
                                 Trading update 
Legion Group, the AIM listed security services provider announces the following 
trading update: 
 
Current Trading 
 
Despite a continued period of economic uncertainty, the man-guarding division 
has produced a stable performance without material change to expected revenues. 
The Group has seen a noticeable increase in interest in its car parking 
division, following a change of operational management. Overall, the Group has 
traded in line with the Board's expectations. The Directors believe that the 
order book is healthy and indicates an assured outlook. 
 
Financing 
 
Legion Group is also pleased to announce that Lloyds TSB has agreed to provide 
the Group with a new GBP7.5m invoice discounting facility which will 
significantly improve the working capital position of the Group.  This 
additional facility has allowed the Group to repay GBP1.5m of liabilities owed 
to HM Revenue & Customs ("HMRC").  Legion Group is currently in negotiation with 
HMRC for settling outstanding PAYE and VAT liabilities which were assumed at the 
time of the acquisition of the Legion business. 
 
Outlook 
 
The Group continues to have a strong order book with both public and private 
sector clients.  As many of the Group's public sector contracts are designated 
as critical to the national infrastructure, the Directors believe that it will 
not be acutely vulnerable to future public sector cuts. 
 
Enquiries: 
 
Legion Group plc                                                     01992 
701940 
Mark Higgins, Chief Executive Officer 
 
Seymour Pierce                                                        020 7107 
8000 
Stewart Dickson, David Foreman 
 
College Hill                                                                020 
7457 2020 
Nick Elwes 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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