Stock Market News
Chaintek traded ahead of expectations in 2013
10-02-2014 07:59
Add To Google +1 | Tweet |
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
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
Related share prices |
---|
China Chaintek United Co. Limited (CTEK) share price |
Stock News is provided by Digital Look Corporate Solutions from Sharecast news. Please read the terms and conditions of useage of this data. Republication or redistribution of content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Digital Look Ltd.
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- RBS share price
- Diageo share price
- Standard Life Share Price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- Morrisons Share Price
- Aviva Share Price
- LGO Share price
- Tullow Oil Share Price
- SXX Share Price
- Easyjet Share Price
- Next Share Price
- Thomas Cook Share Price
- SSE Share Price
- IAG Share Price
- Bat share price
- Monitise Share Price
- Kingfisher share price
- Dragon Oil share price
- UKOG share price
- SOLG share price