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11 Nov 2008 07:00
For immediate release 11 November 2008
ET-CHINA.COM INTERNATIONAL HOLDINGS LIMITED
("Et-china", "the Group" or "the Company")
Trading Update
Et-china, a leading travel services group in the fast growing region of South China, announces the following trading update. The Group is being affected by the reduced level of economic growth in China and the current cautious approach by the Chinese to leisure and business travel spending as well as considerable price cutting in the travel industry. As a result, the Company is not expecting to meet market expectations but the Board is optimistic that current conditions will prove to be short lived and the market will recover soon.
The Company remains liquid with RMB267m (approximately £22m) in cash and believes that the Chinese economy is fundamentally sound. The Company will seek to speed up its expansion via selective acquisition at this opportune time and provide an update to the market as soon as possible.
Contact details for enquiries
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Et-china.com International Holdings Limited |
0207 067 0700 |
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Matthew Ng, Chief Executive Officer |
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Ian Smith, Chairman |
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Seymour Pierce, Nomad and Broker |
0207 107 8000 |
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Mark Percy |
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Weber Shandwick Financial |
0207 067 0700 |
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Terry Garrett |
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Stephanie Badjonat |
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John Moriarty |
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