PHM.L Regulatory News (PHM)

11 September 2017

Zibao Metals Recycling Holdings Plc("Zibao" or the "Company")

Statement re share price movement

The directors have noted the recent increase in the Company's share price.

The results for the year to 31 March 2017 should be published shortly. These will show a substantial increase in turnover, which has been offset by falling margins. Overall there has been an increase in profits as result of cuts in overheads albeit somewhat offset by an overall reduction in gross profits. Trading conditions remain weak.

The strength of the balance sheet has allowed the Company to invest more extensively in working capital which has been a key factor in the growth of sales and the maintenance of profits.

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