Nature Group PLC Trading Statement (2536A)
2014年12月19日 - 4:00PM
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RNS Number : 2536A
Nature Group PLC
19 December 2014
December 19th 2014
Nature Group PLC
("Nature" or the "Company" or the "Group")
Trading Update
Contract win
Nature Group PLC (AIM: NGR), the provider of port reception
facilities and waste treatment solutions for the oil, marine and
process industries, is pleased to announce that its subsidiary,
Nature Oil & Gas AS, has signed a significant new contract for
the deployment of a combined Compact Treatment Unit ("CTU") and
Sludge Treatment Unit ("STU") in the Norwegian Continental Shelf on
behalf of a new customer.
The unique combination of Nature's CTU, designed for on-site
offshore waste water treatment, and STU, designed for heavy sludge
treatment, results in a substantial cost saving when compared with
traditional land based treatment as well as having a substantial
positive environmental impact.
This contract, operations under which will commence by March
2015, is expected to generate initial revenues of GBP1.1 million
and to result in additional services and revenues in 2015 and
beyond.
This will be the fifth operation in the Norwegian sector for
Nature Oil & Gas AS, in addition to operations in Brazil,
Tanzania and the UK shelf.
Gibraltar update
The Group also announces the conclusion of the case brought in
the Gibraltar Magistrates Court by the Factories Inspectorate
against the Company's subsidiary, Nature Port Reception Facilities
Gibraltar Ltd ("NPRFG"), relating to the accident on the 31(st) May
2011. As a result, a fine of GBP120,000 has been imposed on NPRFG.
Whilst the timing of payment has yet to be decided, it will figure
as an extraordinary charge in the current year. Meanwhile, NPRFG is
in the final stages of the design for the rebuild of its storage
facility in the first half of 2015 and expects to be fully
operational again during Q3 2015 to offer customers using the Port
of Gibraltar the best available Port Reception Facilities in
compliance with the highest standards as required by
legislation.
Trading update
In September, the Board stated that it was confident of a return
to profitability for the Company in the second half of the year and
for the year as a whole. However, the Company has seen only a
marginal improvement in trading across all divisions and its
financial performance has been further, adversely impacted by
delays to certain expected revenues during the period. Accordingly,
the Company expects to incur a loss before tax in respect of the
second half of the year close to that reported for the first half
of the year and the Company's results for 2014 are therefore
expected to be materially below current market expectations.
Specifically, whilst the Company has a significant pipeline of
new opportunities in its Oil & Gas division which it is working
to convert to long-term contracts, revenues from the contract
outlined above will now fall outwith the current financial year and
will be deferred into 2015. In addition, in its Maritime division,
a proportion of forecast oil sales have been delayed with the
Company currently holding more oil in inventory than originally
forecast as a consequence of the weaker oil market. The Company has
also yet to reach the expected settlement conclusion with the
Gibraltar Government in relation to a historical contract for the
disposal of contaminated waste.
Andreas Drenthen, CEO, commented:
"Notwithstanding the volatile trading conditions experienced
during the current financial year and the impact on our revenues of
the delays to specific items, the Board remains confident of the
long term prospects for the Company; our fundamentals remain
underpinned by the ongoing trend of environmental legislation and
the continuing increase in the recognition of the efficacy of our
unique offshore treatment technology."
For more information
Nature Group
Andreas Drenthen, CEO Tel: + 31 181 291 144 / andreas.drenthen@ngrp.com
Jan Vesseur, COO Tel: + 31 85 486 7212 / jan.vesseur@ngrp.com
Kieron Becerra, CFO Tel: + 350 200 73905
Nigel Sandy, Chairman Tel: + 44 (0)1208 816 744
Cenkos Securities plc
Neil McDonald Tel: + 44 (0)131 220 9771 / +44 (0)207
397 1953
Nick Tulloch Tel: + 44 (0)131 220 9772 / +44 (0)207
397 1950
Hermes Financial PR
Chris Steele Tel: + 44 (0)7979 604 687
Trevor Phillips Tel: + 44 (0)7889 153 628
About Nature Group:
A company with more than 25 years' experience in waste water
treatment and a unique corporate social responsibility (CSR)
strategy that enables us to be truly a part of Nature and
responding to the ever expanding and demanding legislative
framework.
Nature Group combines port reception services and facilities,
offshore treatment services and the latest sustainable waste
treatment technologies in a steadily growing global network. Nature
Group is traded on the AIM market, (ticker: NGR). www.ngrp.com
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
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