(“Abbeycrest” or the "Group”)
Interim Management StatementAbbeycrest plc (LSE: ACR), a leading international jewellery designer and manufacturer, today provides an update on business performance for the period from
1 March 2011 to 14 July 2011. Whilst the Group made a satisfactory start to the current financial year, its recovery has been further impeded in recent weeks by difficult trading conditions, including continuing rising precious metal prices and retailer action to protect volumes. In May 2011, the Board agreed revised and extended facilities with its lenders in the UK and Thailand. However, due to the factors outlined above, the Group now needs to extend these existing facilities further or reduce the Group’s peak working capital funding requirement by approximately £0.7m in October 2011. The Board is currently reviewing the options available to the Group.For further information, please contact:Abbeycrest plcSimon Ashton, Executive Chairman
Tel: 0113 397 0864www.abbeycrest.co.uk
Evolution Securities LimitedJoanne Lake/Casper Kaars
Tel:0113 243 1619www.evosecurities.com
Rawlings Financial PR LimitedCatriona Valentine
Tel: 01653 618 016www.rawlingsfinancial.co.uk