East West Resources PLC Trading Update (4546T)
November 20 2013 - 1:00AM
UK Regulatory
TIDMEWR
RNS Number : 4546T
East West Resources PLC
20 November 2013
East West Resources Plc
Trading Update
East West Resources Plc ("EWR" or "the Group") is pleased to
issue a trading update for the financial year ending 31 December
2013.
Following on from an improved first half, EWR is pleased to
report further strengthening in its performance during the second
half of the current year.
In the interim statement for the six months ended 30 June 2013,
EWR reported total net revenues for Ambrian Metals Limited (AML),
the Group's metal trading business, of US$5.37 million (comprising
turnover, net of cost of sales). At that time, EWR anticipated that
total income for AML in H2 2013 would be around the same level as
H1 2013 (implying total income for the year of c. US$10.74m).
EWR is pleased to report that, as at 31 October 2013, AML's net
revenues in the ten month period were already in excess of US$10m.
The Group also anticipates that the pattern of trading for the
final two months of the year will follow that achieved, to date, in
the second half of the current year. The financial improvement
results from an increased tonnage of metal sold in the second half
which is in excess of the Board's expectations. Shareholders should
note that there has been no material change in the Group's overall
cost base during the same period.
For further information, please contact:
East West Resources plc
Roger Clegg +44 207 634 4785
Cenkos Securities
Jon Fitzpatrick +44 207 397 8900
Neil McDonald +44 131 220 9771
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTFFFFWUFDSEDF
Ambrian Capital (LSE:AMBR)
Historical Stock Chart
From Jul 2024 to Aug 2024
Ambrian Capital (LSE:AMBR)
Historical Stock Chart
From Aug 2023 to Aug 2024
Real-Time news about Ambrian (London Stock Exchange): 0 recent articles
More East West Res News Articles