PHM Phimedix Plc

TIDMZBO

RNS Number : 3862Q

Zibao Metals Recycling Holdings PLC

11 September 2017

11 September 2017

Zibao Metals Recycling Holdings Plc

("Zibao" or the "Company")

Statement re share price movement

The directors have noted the recent increase in the Company's share price.

The results for the year to 31 March 2017 should be published shortly. These will show a substantial increase in turnover, which has been offset by falling margins. Overall there has been an increase in profits as result of cuts in overheads albeit somewhat offset by an overall reduction in gross profits. Trading conditions remain weak.

The strength of the balance sheet has allowed the Company to invest more extensively in working capital which has been a key factor in the growth of sales and the maintenance of profits.

For further information please contact:

 
 Zibao Metals Recycling Holdings          Tel: +852 2769 
  PLC                                      7662 
  Wenjie "Joe" Zhou, Chairman              www.zibaometals.com 
  Jianfeng "Eddy" Li, Chief Executive 
  Officer 
  Chor Wei "Alan" Ong, Finance Director 
 ZAI Corporate Finance Limited            Tel: +44 (0)20 
  (Nominated Adviser and Broker)           7060 2220 
  Ray Zimmerman/Tim Cofman                 www.zaicf.com 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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September 11, 2017 07:13 ET (11:13 GMT)

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