BRAM.L Share News (BRAM)

Industrial services group Brammer expects sales, distribution and administration costs, at constant currency, to be around £6m lower in the first half and at least £12m lower for the full year. Overall, first half sales at actual currency rates are down 10.5%, although there were 2 more working days in the comparable 2008 period. The group said key account sales and industry sector focus strategy continues to provide resilience to these difficult trading conditions. On a sales per working day basis (SPWD), at actual currency rates, sales are down 8.5% in the six month period. Excluding the year on year effect of acquisitions, SPWD at actual rates are down 10.0%. Excluding the benefits of currency and acquisitions, SPWD were down 17.8%. Gross profit margins continue to be maintained at similar levels to last year, Brammer added."Sales in May and June in most territories were at a similar level compared with March and April, suggesting we have reached stability, albeit at a lower level than for the comparable period last year," said the group.