Connect Group: Trading update 3rd quarter 2012

Connect Group NV (Euronext Brussels: CONN) observed a slowing in customer delivery requests during Q3 2012, resulting in a 7 percent fall in sales revenue compared with Q3 2011. The operating result of the quarter is positive. Due to restructuring charges taken during the quarter, the net result is slightly negative.  The order book at 30 September 2012 rose to EUR 75 million (EUR 70.2 million at 30.09.2011).
Connect Group notes an overall slowing in the EMS market. While during the first half of the year deliveries remained at the same level as in 2011, since the summer there has been a clear change in direction, with delays in customer delivery requests.  The order book as a whole remains at a high level.  Based on this downward adjustment of the market, Connect Group has already reduced its cost structure and tightened its focus on working capital and supply chain management.

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