Creightons Plc
(''Creightons'' or the ''Company'')
Interim Management Statement and Director Appointments
Creightons plc, a leading distributor and award winning manufacturer of personal care products and UK brand owner, today issues its interim management statement for the period from 1 October 2014 to 6 February 2015 ("the Relevant Period") and is pleased to announce that, following a re-organisation within the senior management team, three senior executives have been appointed to its Board with effect from 10 February 2015.
Interim Management Statement
The Company's financial position has continued the improvement we have been achieving over the last few years. Since the last published balance sheet (30 September 2014) there has been an increase in retained earnings as a result of profits achieved on sales in the third quarter.
Sales in the third quarter have continued to grow, particularly our branded products where we have developed and launched new product ranges. This growth has resulted in the need to extend our production capacity by investing in the resources required to support an extended second shift. This step change in costs will result in increased overhead costs whilst supporting any future growth in sales by increasing production capacity.
There is significantly increased competition in the retail market including the health and beauty sector in which we operate. This competition is resulting in increased sales volatility which makes it difficult to predict whether the sales growth achieved to date will continue.
Neither the financial information on which this statement is based nor this statement itself have been reviewed or reported upon by the Company's auditors.
Director Appointments
Mr. Martin Stevens is appointed as Group Deputy Managing Director. Martin is a Chartered Chemist and has worked in the cosmetics industry for 32 years with extensive experience across the personal care and household sector in Research & Development, Quality Assurance, Production and Procurement. Martin has been Technical Director at Potter & Moore Innovations Ltd (the Company's principal trading business) and Creightons Plc for the past 14 years. He has previously been Technical Director of Norit Body Care Toiletries, Technical Director at the manufacturing division of AAH Pharmaceuticals Ltd, Chief Chemist at Columbia Products Co Ltd after initially entering the industry with L'Oreal working with brands such as Lancôme and Cacharel.
Ms. Pippa Clark is appointed Global Marketing Director. Pippa has worked within the industry for 18 years in a wide and extensive range of sales, marketing and commercial roles across private label, branded and contract businesses. In recent years she has headed up the development of the Creightons branded portfolio growing and extending the reach of the Company's award winning brands into multiple channels and international markets whilst also overseeing the development of the strengthening private label division of the business.
Mr. Paul Forster is appointed Director of UK Operations. This is a new role with responsibility encompassing manufacturing, logistics and procurement. Paul has been with the Potter & Moore Innovations business for 24 years, primarily working as Chief Financial Officer but also including spells overseeing manufacturing. Previously he was Finance Director of Beauty International Fragrance Ltd (BIF), who distributed the Coty fragrance range throughout Europe and the Far East. Prior to joining BIF Paul qualified as a Chartered Accountant with Touche Ross.
Mr. William McIlroy, Chairman, commented ''Martin, Pippa and Paul have been instrumental in the development of the business over recent years and I am delighted to welcome them as directors of the Company and we look forward to working together in the next phase in the development of Creightons''.
Save as disclosed below, none of the above have any current directorships nor have they been directors of companies in the five years preceding the date of this announcement, nor are there any other matters required to be disclosed by paragraphs 9.6.13(2) to (6) of the Listing Rules.
Paul Forster was operations director of Potter & Moore Group in 2001 when it went into administration and was sold to Nemesis Toiletries Limited. The business undertaken by Nemesis Toiletries Limited was subsequently sold to Creightons Plc.
The Company's final results for the year to 31 March 2015 are expected to be published by 30 June 2015.
Investor enquiries should be addressed to the Company Secretary, Nicholas O'Shea, Creightons plc, 1210 Lincoln Road, Peterborough, PE4 6ND, phone +44 (0) 1733 281000.
Bernard Johnson
Managing Director
