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Naibu Global Intl Co (NBU)

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Wednesday 17 July, 2013

Naibu Global Intl Co

Trading Update

RNS Number : 4798J
Naibu Global International Co PLC
17 July 2013
 

 

 

Press Release

17 July 2013

 

Naibu Global International Company Plc

 

("Naibu" or the "Company")

 

Trading Update

 

The Board of Naibu Global International Company Plc (AIM:NBU), a leading Chinese manufacturer and supplier of branded sportswear, announces a positive trading update following yesterday's annual general meeting of the Company.

 

At the end of April 2013, the Company held its seasonal sales fair with distributors to showcase its 2013 Autumn and Winter Range. The Board is pleased to report that the value of sales orders at this fair showed a 17.8% increase on the equivalent fair last year.  

 

As previously announced, the Board has been working hard to complete the acquisition of a new plant in Quangang which will enable it to increase its total number of production lines to ten. The Company currently leases eight production lines, four each at Jinjiang and Shishi. Since the production lines at Jinjiang are old, and the lease for the Shishi plant will expire in late 2013, the existing Jinjiang lines will be retired, and two of the four Shishi lines will be moved to Jinjiang. The other two Shishi lines will be moved to Quangang, which will also have six new production lines of its own, giving Quangang a capacity of eight lines.  It is expected the new factory will be operational by the end of 2013, with no disruption to production during the period.

 

In contrast to recent announcements by some of Naibu's larger competitors, the Board is pleased to confirm that trading across the 3,150 Naibu branded outlets remains strong and that trading across all of the Company's divisions continues to be in line with the management's expectations for the current financial year.

 

Huoyan Lin, Executive Chairman of Naibu Global International Company Plc, said: "It is pleasing to report our trading continues to grow from strength to strength as seen by the recent sales success at the Autumn and Winter Range fair.

 

"With a new plant coming online by the end of 2013 bringing an additional two production lines to increase total production capacity to ten lines, as well as replacing the older Jinjiang lines with more efficient lines, the Board feels the Company is well positioned to continue growing and views the future with confidence."

 

- Ends -

 

For further information:

Naibu Global International Company Plc


Huoyan Lin, Executive Chairman

Tel: +44 (0) 20 7398 7702

Li Zhen, Chief Financial Officer

www.naibu.com

 

Daniel Stewart & Company Plc

Tel: +44 (0) 20 7776 6550

Paul Shackleton / Martin Lampshire

www.danielstewart.co.uk

 

Media enquiries:

Abchurch


Henry Harrison-Topham / Joanne Shears

Tel: +44 (0) 20 7398 7702

he[email protected]

www.abchurch-group.com

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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