Ambrian PLC Trading Statement (4699E)
February 10 2015 - 2:00AM
UK Regulatory
TIDMAMBR
RNS Number : 4699E
Ambrian PLC
10 February 2015
Ambrian plc
("Ambrian" or the "Company")
Trading Update
Ambrian plc (AIM: AMBR), the physical metals trader, provides
the following update on trading in the year ended 31 December 2014.
In its interim results statement issued on 12 September 2014, the
Company confirmed that trading conditions in its metals markets
were relatively benign earlier in the year but that the markets
became more challenging around the middle of the year and that this
was expected to continue. These conditions have indeed persisted
into the current financial year and have affected all participants
in the metals trading sector due to the volatility in forward
spreads, periods of acute backwardation and continued credit
tightness in the Chinese market.
These combined factors have had an adverse impact on the Group's
core metals trading business, Ambrian Metals Limited, and its net
revenues for the second half of the year will be approximately 30
per cent lower compared to the first six months of the year. The
Directors of Ambrian also anticipate that the first quarter of 2015
will continue at this level of activity but expect trading
conditions to improve in the latter part of 2015. However, the
increase in volumes that have been traded will provide a solid base
for an improvement in performance when more favourable market
conditions prevail and margins recover to previous levels.
Enquiries
Ambrian plc
Roger Clegg + 44 (0)20 7634 4700
Cenkos Securities plc
Neil McDonald + 44 (0)20 7397 8900
Nick Tulloch
This information is provided by RNS
The company news service from the London Stock Exchange
END
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