AMBR.L Regulatory News (AMBR)

Ambrian plc

("Ambrian" or the "Company")

Trading Update

Ambrian plc (AIM: AMBR), the physical metals trader, provides the following update on trading in the year ended 31 December 2014. In its interim results statement issued on 12 September 2014, the Company confirmed that trading conditions in its metals markets were relatively benign earlier in the year but that the markets became more challenging around the middle of the year and that this was expected to continue. These conditions have indeed persisted into the current financial year and have affected all participants in the metals trading sector due to the volatility in forward spreads, periods of acute backwardation and continued credit tightness in the Chinese market.

These combined factors have had an adverse impact on the Group's core metals trading business, Ambrian Metals Limited, and its net revenues for the second half of the year will be approximately 30 per cent lower compared to the first six months of the year. The Directors of Ambrian also anticipate that the first quarter of 2015 will continue at this level of activity but expect trading conditions to improve in the latter part of 2015. However, the increase in volumes that have been traded will provide a solid base for an improvement in performance when more favourable market conditions prevail and margins recover to previous levels.

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