18 Oct 2010 07:00
| Press Release | 18 October 2010 |
Pan Pacific Aggregates plc
("PPA" or the "Company")
Trading Update
Pan Pacific Aggregates plc (AIM:PPA), an operator of quarries in British Columbia, is pleased to provide the following update on the Company's operations.
Highlights
| • | Q3 has seen a 79% increase in revenue compared to Q2 |
| • | Q3 has seen a 60% increase in tonnes sold compared to Q2 |
| • | Q3 has seen a 12% increase in the average aggregate selling price compared to Q2 |
| • | Recent Daily volumes now averaging over 2,000 tonnes and peaking at over 3,000 tonnes |
PPA has seen increased sales at Quadling Quarry ("Quadling") which has been led by the introduction the main processing plant in June 2010 and the sale of higher specification products. Quadling has performed to management's expectations and trading in September and early October 2010 has created the critical mass where Pan Pacific Quadling Quarry Ltd is now covering all its operational costs.
Due to increased sales, the secondary processing section of Quadling's main processing equipment is now nearing production capacity. Production also meets the Ministry of Transport road specifications. This recent progress at Quadling will provide the solid foundation for PPA to continue moving towards profitability in the new financial year.
Meanwhile, greater Vancouver's robust economy continues to see buoyant market conditions and increased development activity, which through numerous infrastructure and construction projects, remains beneficial for PPA.
- Ends -
For further information:
| Pan Pacific Aggregates plc |
|
| William Voaden, Managing Director | Tel: +44 (0) 20 7096 9580 |
Nomad and Joint Broker:
| Matrix Corporate Capital LLP |
|
| Louis Castro / Tim Graham | Tel: +44 (0) 20 3206 7000 |
Joint Broker:
| XCAP Securities PLC |
|
| John Grant/Tim Burge/David Newton | Tel: +44(0)20 7101 7070 |
Media enquiries:
| Abchurch Communications Limited |
|
| Henry Harrison-Topham / Nick Probert | Tel: +44 (0) 20 7398 7715 |
| nick.probert@abchurch-group.com | www.abchurch-group.com |
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