Wagon plc, the European automotive components group, said at its AGM today (21 July)that it had seen a weak first quarter - in line with its expectations.

"In line with our expectations, trading for the first quarter has been weak. The outlook for the remainder of the year remains unchanged from the time of the preliminary results announcement on 8 June, with a stronger performance expected in the second half than the first half of the year," a statement said.

"The integration of the Oxford Automotive business into the Wagon Group continues according to plan.

"Discussions are continuing concerning the potential divestment of the five low tonnage press plants, as communicated at the time of the preliminary results announcement."

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