Global Market Group Ltd Trading update and date for release of interims (2582N)
04 Septiembre 2013 - 11:00AM
UK Regulatory
TIDMGMC
RNS Number : 2582N
Global Market Group Ltd
04 September 2013
Global Market Group Limited
("Global Market" or the "Company")
Trading update and date for release of Interim Results for six
months to 30 June 2013
Global Market (AIM: GMC), the AIM-quoted business-to-business
("B2B") e-commerce service provider, announces it will release its
Interim Results for the half-year to 30 June 2013 on 19 September
2013 (the "Interim Results").
The Interim Results will report that revenues for the period
were US$13 million (HY2012: US$20.3 million). The fall primarily
mirrored similar declines experienced during the half year by other
major service providers in China's B2B e-commerce sector as a
result of continuing uncertainty over levels of manufacturing
export growth. The results also reflect first-half investment and
focus by the Company in previously-announced strategic initiatives
intended to counter those economic uncertainties by developing a
stronger platform to deliver stepped growth and establish a
dominant market position. As a result of those two factors
together, non-GAAP net loss for the period is expected to be
approximately US$5 million which includes investment of
approximately US$4m in new initiatives. However, with the
implementation of the strategic reshaping, the Company believes it
is now better positioned to deliver stronger performance in the
second half of 2013.
The Interim Results will contain a broader update on the
Company's operations, including detailed consideration of
investment spending and the progress that has been made with
respect to the Company's longer term strategy during the
half-year.
About Global Market Group Limited
Global Market generates revenues by operating the online portal
www.globalmarket.com that connects high-quality manufacturers in
China with buyers from all over the world. GMC Manufacturers listed
on the portal with "GMC" logo undergo independent quality audits
conducted by Germany's respected TUV Rhineland group ("TUV") to
gain Global Manufacturer Certificate (or "GMC") certification,
assuring international buyers they have met demanding and
independently-assessed certification standards, thus reducing risk,
building trust, and providing a convenient and inexpensive route
for manufacturers to access an international buying audience.
Manufacturers pay to use the web portal, and international buyers
are offered free access.
For further information, please visit www.globalmarket.com or
contact:
David Ling/ Cheandy Hu/ Mophy Fan Global Market Group Limited:
+86 (20) 8600 2299
Philip Secrett/ Maureen Tai/ Melanie Frean Grant Thornton UK
LLP, Nominated Adviser: +44 (0)20 7383 5100
Richard Baty/ Paul Gillam Westhouse Securities Limited, Broker:
+44 (0)20 7601 6100
Allan Piper/ Jiang Lei First City Public Relations: +852 2854
2666
Simon Hudson/Kelsey Traynor Tavistock Communications: +44 (0) 20
7920 3150
This information is provided by RNS
The company news service from the London Stock Exchange
END
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