Sign In
19 Nov 2009 12:00
ο»Ώ
HaiKe Chemical GroupΒ Ltd.Β
Trading update
HaiKe Chemical Group Ltd. ("HaiKe" or the "Company"), the AIM quoted (AIM: HAIK) petrochemical, speciality chemical and biochemical business based inΒ ChinaΒ is today issuing an update onΒ currentΒ trading.
Since the announcement of the interim results on 24th September 2009, both the petrochemical and speciality chemical businesses have seen increased sales prices and increasing sales volumes. As such, total sales during the second half of the financial year are expected to exceed the first half.
However, despite the increasesΒ in volumes,Β trading conditions have continued to be difficult and the expected upturn in performance after the losses experienced in July and August has not been seen. TheΒ Company traded at a loss throughout the third quarter and as a result is now lossΒ makingΒ for the year to date. In particular,Β inflation inΒ petrochemicalΒ feedstock prices hasΒ severely adversely affectedΒ margins compared to the first half of the financial year.Β
The Directors are cautiously optimistic that the last quarter of the year will be an improvement on the third quarter and are taking measuresΒ to insulate the Company against such price fluctuations in the future.
For further information please contact:
|
HaiKe |
Nick Su,Β Chief Finance Officer |
+86 (0) 546Β 67787789 |
|
Hanson Westhouse |
Tim MetcalfeΒ /Β Martin DavisonΒ |
+44 (0) 20 7601 6100 |
|
Cardew Group |
Rupert PittmanΒ /Β Shan Shan WillenbrockΒ /Β Catherine MaitlandΒ |
+44 (0) 20 7930 0777 |
Follow the stocks
