AIM-listed Chaintek said that trading in 2013 was marginally ahead of expectations with profits up over 10 per cent on the previous year.

The company, which provides logistics services to manufacturers of consumer goods in China, said it was also "optimistic" about its performance in 2014 with construction due to commence on a planned logistics park in the second half.

The Logistics Services division, which accounted for around 86% of group revenues in 2012, performed "robustly" last year with 16 new customers being added.

Chaintek is continuing to diversify its customer base, increasing its exposure to the food and building materials industries and reducing its reliance on shoes and apparel. Shoes and apparel comprised 69% of revenue in 2013, down from 72% in 2012.

Meanwhile, the firm's other division, Inventory Solutions, is expected to register a "modest" 3% increase in revenues, the company said.

Chaintek, which announced a maiden interim dividend of 2p per share at the half-year stage, reiterated that its full-year payout will be weighted toward the final dividend and that it intends to maintain a "progressive dividend policy".

The stock rose strongly on Monday morning after the statement, rising as much as 10% to 158p early on, giving Chaintek a market capitalisation of around £86m.

BC

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