New Trend Lifestyle Group plc Trading Update (0618B)
March 30 2017 - 9:01AM
UK Regulatory
TIDMNTLG
RNS Number : 0618B
New Trend Lifestyle Group plc
30 March 2017
30 March 2017
For immediate release
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR).
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.
As highlighted in the Company's interim results to 30 June 2016
published in September 2016, trading conditions for the Company
remain challenging in Singapore, and the Company has continued to
experience declining sales during the second half of the year. In
addition, sales for the first two months of this financial year are
significantly down when compared to the same period last year. The
Company continues to develop new sales and marketing initiatives to
generate revenue, whilst tightly controlling costs. The Directors
believe that these tough trading conditions are expected to
continue throughout the rest of the financial year. The Company's
cash balances (unaudited) were S$1.9million as at 28 February
2017.
In line with our stated strategy, the Board has evaluated
several potential acquisition targets, however, to date, none of
these have been suitable for the Company to take forward. The Board
will continue to source new targets, and will provide an update as
and when appropriate.
The Company intends to publish its final results for the year
ended 31 December 2016, in early June.
For further information:-
New Trend Lifestyle Group Plc +44 (0) 7830
Gregory Collier, Non-Executive Chairman 182501
SPARK Advisory Partners Limited
(NOMAD) +44 (0) 20
Mark Brady /Neil Baldwin 3368 3551
SI Capital Ltd +44 (0) 1483
Nick Emerson / Andy Thacker 413500
This information is provided by RNS
The company news service from the London Stock Exchange
END
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