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Trading Update

18 Oct 2010 07:00

RNS Number : 5196U
Pan Pacific Aggregates PLC
18 October 2010
 



 

Press Release

18 October 2010

 

Pan Pacific Aggregates plc

 

("PPA" or the "Company")

 

Trading Update

 

Pan Pacific Aggregates plc (AIM:PPA), an operator of quarries in British Columbia, is pleased to provide the following update on the Company's operations.

 

Highlights

Q3 has seen a 79% increase in revenue compared to Q2

Q3 has seen a 60% increase in tonnes sold compared to Q2

Q3 has seen a 12% increase in the average aggregate selling price compared to Q2

Recent Daily volumes now averaging over 2,000 tonnes and peaking at over 3,000 tonnes

 

PPA has seen increased sales at Quadling Quarry ("Quadling") which has been led by the introduction the main processing plant in June 2010 and the sale of higher specification products. Quadling has performed to management's expectations and trading in September and early October 2010 has created the critical mass where Pan Pacific Quadling Quarry Ltd is now covering all its operational costs.

 

Due to increased sales, the secondary processing section of Quadling's main processing equipment is now nearing production capacity. Production also meets the Ministry of Transport road specifications. This recent progress at Quadling will provide the solid foundation for PPA to continue moving towards profitability in the new financial year.

 

Meanwhile, greater Vancouver's robust economy continues to see buoyant market conditions and increased development activity, which through numerous infrastructure and construction projects, remains beneficial for PPA.

 

- Ends -

 

 

 

For further information:

Pan Pacific Aggregates plc

William Voaden, Managing Director

Tel: +44 (0) 20 7096 9580

 

Nomad and Joint Broker:

Matrix Corporate Capital LLP

Louis Castro / Tim Graham

Tel: +44 (0) 20 3206 7000

 

Joint Broker:

XCAP Securities PLC

John Grant/Tim Burge/David Newton

Tel: +44(0)20 7101 7070

 

Media enquiries:

Abchurch Communications Limited

Henry Harrison-Topham / Nick Probert

Tel: +44 (0) 20 7398 7715

nick.probert@abchurch-group.com

www.abchurch-group.com

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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