“Sprue has made a positive start to the year with an expected strong return to profitability in H1 2017 building on the steady progress delivered by the Company in the second half of 2016. The combination of a significant improvement in gross margin and a net reduction in overheads is expected to contribute to a much improved financial performance by the Group in H1 2017 compared to H1 2016.
Despite the recent modest currency fluctuations (Sterling v US Dollar and Sterling v Euro), the Group remains well positioned to deliver full year adjusted operating profit in line with market expectations.
The new manufacturing and distribution arrangements announced by the Company on 31 March 2017 are progressing well. These transformational initiatives will further strengthen our offering in the key markets we serve across Europe and greatly enhance our ability to accelerate growth and maximise shareholder value in the medium to longer term.”