Molins Appoints New Chairman

Source from:  Tobacco Reporter 10/27/2010

Molins PLC has announced the immediate appointment of Avril Palmer-Baunack as a non-executive director of the company and chairman of the board following the decision by Jonathan Azis to step down from the board. Palmer-Baunack is CEO of Autologic Holdings plc and a non-executive director of Helphire Group plc and Alexon Group plc. She was formerly CEO of Universal Salvage plc. Meanwhile, Molins' order intake across the group improved during the three months to the end of September, though the year-to-date value of the sales was still below that for the equivalent period of last year, the company said in an interim management statement issued yesterday. "Sales have been a little lower than expected, although this is anticipated to be recovered in the remaining months of the year," the statement said. "Overall, the board's underlying performance expectation for the full year has improved since 27 August 2010 [when half year results were announced], although underlying performance is still expected to be lower than that of last year." "Performance is expected to be heavily weighted to the last quarter of the year." "The financial position of the group is broadly similar to that at 30 June 2010." Enditem