HAVELOCK EUROPA PLC 
By
Havelock Europa, (AIM:HVE.L), the retail and educational interiors group, today provides an update on trading ahead of its final results for the year to 31 December 2012. The Board expects trading for the year to 31 December 2012 to be in line with its expectations at the time of the announcement of its interim results.
As in previous years, trading in the second half was stronger than the first half. Activity levels in the Interiors Division continued to show an improvement on the prior year with good levels of activity in the autumn in what remained a difficult market for the whole of 2012. In the Educational Supply businesses activity levels also strengthened with the benefit of framework agreements which have generated additional revenue particularly for Stage Systems.
The economic outlook for the UK remains challenging particularly for the retail sector; however against this background the strength of the group's opening order book for 2013 is encouraging. Discussions with retail customers about activity levels are positive and the business continues to develop relationships with new customers while international activity is progressing on the back of business secured from existing customer relationships. Encouragingly, new projects in the educational sector under regional or local schemes continue to come to market. In addition discussions on further framework agreements are in progress.
Control of working capital remains a key focus within the business and this together with the sale of Showcard Print and Clean Air during 2012 resulted in a significant reduction in net debt during the year. The sale of these non-core parts of the Group has the additional benefit of allowing greater focus by management on development of the core Interiors business.
Eric Prescott, Chief Executive
Grant Findlay, Finance Director
James Grace
Keith Anderson
Rob Ballantyne
Shan Shan Willenbrock
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