Manroy PLC Order Update (1901T)

TIDMMAN

RNS Number : 1901T

Manroy PLC

11 December 2012

MANROY PLC

ORDER UPDATE FOR YEAR ENDING 30 SEPTEMBER 2013

Manroy Plc ("Manroy" or the "Company"), the AIM quoted UK defence contractor, announces an update on its forward order book for the financial year ending 30 September 2013.

The order book and pipeline of Manroy for the current financial year are at record levels and negotiations are at an advanced stage in respect of significant orders, in addition to those previously announced. Accordingly, the Board remains confident that Manroy will at least match market expectations of revenues for the year ending 30 September 2013.

The achievement of market expectations is not reliant on the Company securing the GBP8.0m export order referred to in Manroy's announcement on 13 September 2012. Whilst the Board remains confident this order will be won, it is now expected to be awarded during 2013.

Glyn Bottomley, Chief Executive of Manroy, commented: "The Board is encouraged that the Manroy order book and pipeline remains strong and we look forward to announcing further positive contract wins in the near future. As substantial shareholders, the Directors all share in the frustration arising from the continued delay to the export order referred to above, but remain confident that this will be obtained."

Ends

For further information please contact:

 
 Manroy Plc                        Tel: 01252 874 177 
--------------------------------  ------------------- 
 Glyn Bottomley, Chief Executive 
--------------------------------  ------------------- 
 Paul Carter, Finance Director 
--------------------------------  ------------------- 
 
 Allenby Capital Ltd - Nomad       Tel: 020 3328 5656 
  and Broker 
--------------------------------  ------------------- 
 Mark Connelly 
--------------------------------  ------------------- 
 Alex Price 
--------------------------------  ------------------- 
 
 Bankside Consultants Ltd          Tel: 020 7367 8874 
--------------------------------  ------------------- 
 Richard Pearson 
--------------------------------  ------------------- 
 Simon Rothschild 
--------------------------------  ------------------- 
 Harry Gourlay 
--------------------------------  -------------------

Notes to Editors:

1. Manroy is a UK based defence contractor specialising in the supply of weapon systems for land, air and maritime applications.

2. A key Ministry of Defence supplier for 26 years, Manroy designs, manufactures, supplies and supports:

   --    the 12.7mm M2 Heavy Machine Gun ("HMG"), also known as the 0.50" calibre HMG; 
   --    the 7.62mm General Purpose Machine Gun ("GPMG"); 
   --    HMG Quick Change Barrel kits; 
   --    a range of turret products for armoured fighting vehicles; 
   --    weapon tripods and weapon mounting systems

3. Production of the HMG, along with support and spares is Manroy's core area of operation. In recent years Manroy has increasingly focused on the export market and diversification of its customer base into new territories.

4. Manroy owns 49% of North Carolina based Manroy USA ("MUSA"), a leading defence supplier to both military and civilian agencies.

   5.   MUSA manufactures a range of weapons systems and ancillary products, including: 
   --    The M2 HMG 
   --    M2 HMG Quick Change Barrel kits 
   --    Barrel manufacturing for both the military and commercial markets 
   --    M16 and M4 military rifles 
   --    Electronic boresights 
   --    Mounting systems 
   --    Commercial rifles and parts

6. MUSA's acquisition of Sabre Industries in March 2011 enhanced its penetration of the US market.

7. In April 2012, $10.4m (GBP6.6m) of Sabre's contracts with the US Department of Defense were successfully novated to MUSA.

The Group adheres strictly to UK legislation concerning the sale of weapons to foreign countries. Manroy's overseas sales are undertaken in adherence to UK Government regulations and approvals. Such sales are only undertaken after all appropriate UK Government licenses have been granted.

This information is provided by RNS

The company news service from the London Stock Exchange

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