CTI Cathay International Holdings Ld

TIDMCTI

RNS Number : 8009K

Cathay International Holdings Ld

18 December 2018

18 December 2018

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

Cathay International Holdings Limited

("Cathay", the "Company" or the "Group")

Trading update

Hong Kong, 18 December 2018 - Cathay International Holdings Limited (LSE: CTI.L), an operator and investor in the growing healthcare sector in the People's Republic of China (the "PRC"), provides a trading update for the year ending 31 December 2018.

The Group continues to face challenging economic conditions, regulatory changes and tough competition.

As reported in the interim results for the six months ended 30 June 2018, a number of management and operational changes have been made and/or are underway in all the Group's businesses, as a result of which selling and distribution costs have reduced materially. Such changes also include management to shorten working capital cycle, aiming to improve cash flow, which affects the Group's short term results but not the business fundamentals. The Group is also working to replace certain distribution agency products by developing and promoting its own products. In the short term, these measures are having an adverse impact on revenues and profits but are necessary in the Group's business operations.

For further enquiries, please contact:

 
 Cathay International Holdings Limited 
  Eric Siu (Finance Director)                Tel: +852 2828 9289 
  Patrick Sung (Director and Controller) 
 Consilium Strategic Communications 
  Mary-Jane Elliott / Matthew Neal           Tel: +44 (0) 203 709 
  / Lindsey Neville                          5702 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

TSTFKFDKFBDKKBD

(END) Dow Jones Newswires

December 18, 2018 03:02 ET (08:02 GMT)

Cathay International Hol... (LSE:CTI)
Historical Stock Chart
From Apr 2024 to May 2024

Cathay International Hol... (LSE:CTI)
Historical Stock Chart
From May 2023 to May 2024