RNS Number : 9146G
Tinci Holdings Ltd
29 October 2008
FOR IMMEDIATE RELEASE 29 October 2008
TINCI HOLDINGS LTD
The Directors of Tinci Holdings Ltd. ("the Company" or "Tinci") (TNCI), the AIM quoted environmental engineering company, provide an
update to shareholders on the Company's current trading.
Following the Company's return to profitability in the first six months to 30 June 2008, trading conditions have deteriorated
considerably. Despite the general recognition that China needs to reduce the pollution produced by its power stations, a number of
desulphurisation projects have been postponed or withdrawn due to power stations deferring capital expenditure. As a result, the number of
projects available for Tinci to bid has reduced considerably.
Tinci is taking appropriate steps to reduce its costs and is in the process of reviewing its management structure. However, the decline
in sales will lead to a significantly reduced profit in the second half of 2008. The Directors expect Tinci's profit for the year ending 31
December 2008 to be similar to the profit for the six months to 30 June 2008.
Mr Xu Jinfu, Chief Executive Officer of Tinci Holdings Ltd., commented:
"Although 2008 began well, the power station market has become much more difficult as the year has gone on. There is no doubt that China
needs to improve its record on protecting the environment and Tinci's work is central to reducing pollution from the country's power
stations. We are disappointed that the profit for 2008 will be below expectations."
ABOUT TINCI HOLDINGS LTD
Tinci Holdings Ltd. is the parent company of Tinci Sanhe Environmental Engineering Co. Ltd., an environmental engineering company
founded in October 2001, which is primarily involved in developing, manufacturing and installing flue gas desulphurisation (FGD) systems for
reducing sulphur dioxide (SO2) emissions from coal-fired power stations and large industrial boilers in China.
The Company's shares are traded on the AIM market of the London Stock Exchange under the symbol 'TNCI'.
For further information on Tinci and on its various FGD technology processes, please visit www.tinciholdings.com or contact:
Tinci Holdings Ltd
David Steeds Tel: +44 (0)7836 578222
Joshua Cheng Tel: +1 512 577 4613
Hanson Westhouse Limited
Tel: +44 (0) 20 7601 6100
This information is provided by RNS
The company news service from the London Stock Exchange