Asia Ceramics Holdings PLC Trading Update (0137Q)

TIDMACHP

RNS Number : 0137Q

Asia Ceramics Holdings PLC

31 October 2012

Asia Ceramics Holdings PLC

("Asia Ceramics" or "the Company")

Trading Update

Asia Ceramics provides a trading update for the current year since the release of its interim results for the six months to 30 June 2012.

Trading since the half year has slowed as a result of the weakening of the Chinese market and in addition there has been a drop off in the level of export sales in the period. Whilst the first half of the year showed encouraging levels of both sales and profits, the board believes that the results for the second half and therefore the overall year ending 31 December 2012 will be affected by a combination of slower sales and decreased margins that the Company is facing in order to remain competitive.

The Board believes the revenue for the second half will be below that in the first half, and it currently estimates that the level of profitability in the first half will not be sustained in the second half such that operating performance is expected to be materially lower than market expectations.

Whilst the recent trading has been disappointing the board believe that the long-term fundamentals of its business are sound and that it is well placed to take advantage of any market upturn.

The Company has agreed a loan with ICBC bank in China for RMB1.6m which the Company will use for working capital.

Enquiries:

 
     Frank Lewis, Chairman       Asia Ceramic Holdings       Tel: 07785 273 111 
                                  plc 
     Shawn Wu, CFO               Asia Ceramic Holdings       Tel: 86-10-68531389 
                                  plc 
     James Joyce                 WH Ireland Limited          Tel: 020 7220 1666 
 
   James Bavister                       WH Ireland Limited

This information is provided by RNS

The company news service from the London Stock Exchange

END

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