World Trade Systems PLC Final Results 2016 (2766D)
26 4월 2017 - 2:29AM
UK Regulatory
TIDMWTS
RNS Number : 2766D
World Trade Systems PLC
25 April 2017
WORLD TRADE SYSTEMS PLC ("WTS")
Announcement of Annual Results for y/e 2016
As shareholders already know from previous announcements, WTS is
in the midst of seeking to have its shares relisted for trading on
the Standard Segment of the Official List on the London Stock
Exchange. It is in this context that the Board is pleased to
announce its results for the year ending December 31, 2016. For the
first time in more than ten (10) years, these results reflect the
activities of an active business being carried on by WTS's wholly
owned subsidiary in China, Shimao (Suzhou) Bio-technology Co., Ltd
("WTS China").
WTS China was established in June of 2016 and commenced
operations in July 2016. Accordingly, the consolidated audited
financial statements approved by the Board of Directors for
presentation at the next Annual General Meeting, reflect almost six
months of active business operations.
WTS China's business is the manufacture, distribution and sale
of a range of health food products, including functional drinks
containing collagen and other natural ingredients, and providing
health and beauty enhancing benefits to customers.
In the first 6 months of operations WTS China's business has
generated GBP8.69 million in total revenue with profits before tax
of GBP 906,000. As a result of this profit generation, WTS's
overall net liabilities have been reduced from over GBP1.1 million
to GBP 407,000.
WTS and WTS China (the "Group") together now employ more than 60
staff, including managers and senior executives, and also including
a complement of 5 accounting and administrative personnel who
collate and monitor the Group's financial operations under the
guidance of the Board and the Executive Director ( Finance) out of
the Group's head offices located in Amersham, just outside London.
More than 200 distributors are engaged by WTS China in marketing
its products in China and the Group is planning to expand its
distribution network both in China and introduce further products
from international suppliers in the coming year.
As Chairman of the Group, I am pleased and proud to be able to
make this announcement at this time and the Board looks forward to
providing shareholders with further information on the Group's
development and plans in the coming months.
_______________________
Robert Lee-Chairman
April 25, 2017
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END
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April 25, 2017 13:29 ET (17:29 GMT)
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