Annual General Meeting Statement
22 July 2004
The Chairman of Erinaceous Group plc (“Erinaceous”), Nigel Turnbull has made the following statement to shareholders at the Annual General Meeting of the Company held today. Erinaceous is the AIM listed, one-stop shop property services group operating in the public and private sectors.
“Our financial performance in the first quarter of the current financial year shows an improvement over last year. Our recent acquisition, ISG Occupancy (“Occupancy”) in the property services division, provides a range of property services for commercial properties and, importantly for Erinaceous, has brought a blue chip private sector client base as well as a significant presence outside the South East. The business is currently being re-branded as Haywards, our existing property services brand in the public and private sector markets. In addition, we are consolidating office premises and infrastructure in London to lower combined overheads significantly in future years. In the two months since acquisition Occupancy has traded profitably against a loss in the same period last year.”
“Occupancy was an important acquisition for us because of its private sector, commercial expertise and its regional reach, which will allow us to develop our property services business in new geographic territories in the UK.”
“We have made a positive start to the year and I look forward to reporting further progress as the year continues.”
Enquiries:
| Neil Bellis, Chief Executive | Marylène Guernier or Simon Hudson |
| Erinaceous Group plc | Tavistock Communications |
| Tel: 0870 703 9898 | Tel: 020 7920 3150 |
