StockMarketWire.com - Third quarter like-for-like revenues at publishing group Haynes are "very much in line with the prior year".

Sales in the UK and Europe continued the trend of the first six months tracking ahead of last year.

In the UK, sales of automotive manuals ended the 13 week period 10% ahead of the prior year and a strong seasonal publishing programme helped increase revenue in the Haynes Book Division by 21%.

While in Holland, revenue in Vivid during the 13 week period was 12% ahead of last year. In the US, market conditions continue to adversely influence sales with revenue in local currency ending the quarter 4% down on the prior year. Nevertheless, this time last year we were reporting sales during the third quarter down 12% and more recently at the half year down 6% against the prior year. During the second six months of last year the value of sterling weakened significantly against the US dollar which benefitted the group from both a revenue and profit perspective.

But it adds: "Whilst we expect to see a small benefit again this year, it is unlikely to be to the same extent."




Story provided by Business Financial Newswire