News Release from: Abacus Group
Edited by the Electronicstalk Editorial Team on 20 September 2002
Trading conditions remain tough for Abacus
Abacus Group has reviewed its performance for the financial year ending 30th September 2002, and confirms that trading is in line with current market expectations.
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Abacus Group has reviewed its performance for the financial year ending 30th September 2002, and confirms that trading is in line with current market expectations. According to a spokesman: "Trading conditions in the industry remain tough. Although it is encouraging that our sales and orders are in balance, suggesting that the electronic component market has stabilised, we currently see no signs of any general recovery and activity, whilst margins in some areas are experiencing slight pressure".
As predicted in May, one of the group's recently acquired subsidiaries has started to take orders on new large projects.
The benefit will accrue during the second half of the coming financial year and the company believes that this business will make an important contribution to the group's performance in the future.
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