TIDMCFC

RNS Number : 6778D

China Food Company PLC

01 May 2013

 
   Press Release     1 May 2013

China Food Company Plc

("China Food" the "Company" or the "Group")

Trading Update and

Notice of Preliminary Results

China Food Company plc (AIM:CFC), the leading Chinese manufacturer of cooking and dipping sauces, today gives the following update on trading ahead of its Preliminary Results for the year ended 31 December 2012, which will be announced on Tuesday 21 May 2013.

Since the last trading update, the Board is pleased to confirm that revenues during Chinese New Year, an important trading period for the Group, were in line with management expectations.

The Group has been working to put a structure in place to enable it to move funds out of China, and is pleased to report that this has now been successfully completed with the first receipt of funds to the Singapore holding company in April 2013 to cover a small amount of internal expenses.

The Board confirms that the Group continues to seek a buyer for its animal feed business, and will update the market on this as appropriate. The feed business is now operating from its new factory and will make a positive contribution to the Group. The Board anticipates that the operational cash flow from the feed business will exceed the interest payable on the Group's loan stock. Once the feed business has been sold, the anticipated proceeds will be used to repay the outstanding loan stock.

Notice of Preliminary Results

China Food will announce its Preliminary Results for the year ended 31 December 2012 on Tuesday 21 May 2013.

An analyst presentation will take place at 9.30 a.m. on Tuesday 21 May 2013 at the offices of Abchurch Communications, 16(th) Floor, 125 Old Broad Street, London, EC2N 1AR.

- Ends-

For further information:

 
 China Food Company Plc 
 John McLean, Chairman                     Tel: +44 (0) 7768 031 
                                                             454 
                                        www.chinafoodcompany.com 
 Numis (Joint Broker) 
 David Poutney - Head of Corporate          Tel: +44 (0) 20 7260 
  Broking                                                   1000 
 
   finnCap (Nomad and Joint Broker) 
 Geoff Nash / Ben Thompson (Corporate       Tel: +44 (0) 20 7220 
  Finance)                                                  0500 
 Simon Starr (Broking)

Media enquiries:

 
 Abchurch Communications 
 Henry Harrison-Topham / Joanne Shears     Tel: +44 (0) 20 7398 
                                                           7709 
 henry.ht@abchurch-group.com             www.abchurch-group.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCBLGDSCSXBGXG

China Food Co. (LSE:CFC)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more China Food Co. Charts.
China Food Co. (LSE:CFC)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more China Food Co. Charts.