16 Dec 2015 09:37
New Trend Lifestyle Group Plc
("NTLG" or the "Company")
Trading Update
New Trend lifestyle Group Plc (AIM: NTLG), the Singapore - based Feng Shui products and services group, announces a trading update.
Following announcement of the interim results on 30 September 2015, the Company has continued to experience tough trading conditions in Singapore. Measures to reduce costs continue and new marketing initiatives are having some effect on arresting the decline in revenues. Though expected to be profitable in the final quarter of 2015, a profit for the full year is not expected.
Cash balances remain in excess of S$2.4million as at 30 November 2015.
The Board is in the process of preparing the financial plan for 2016 with a view to restoring profitability and is evaluating alternative strategies for the Company.
For further information:-
New Trend Lifestyle Group Plc 0207 653 9850
Robert Goddard, Chairman
Ajay Rajpal, Director & Interim CFO
Zeus Capital (NOMAD and broker)
Andrew Jones 0161 831 1512
About New Trend Lifestyle
The Company was established in 2005 by Master Hillary Phang. NTL's Feng Shui services include building and office design consultancy, astrology readings, marriage matching, aura readings and business talks and seminars for large corporations.
NTL is one of the leading branded Feng Shui consultancies in Asia, selling its services to a mixture of high profile businessmen, political figures, business enterprises and the general public. It provides lifestyle guidance to customers, which leads to the provision of a number of products and services.
Feng Shui is endemic in Chinese communities throughout the world and influences many aspects of personal, business and even Government activities and is the basis on which the Company has created a business with a strong brand and deep-seated cultural drivers.