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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
China Med | LSE:CMDS | London | Ordinary Share | SG9999002489 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 57.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
China Medstar Limited ("Medstar" or the "Company") Trading Update The Company today announces a trading update ahead of the publication of the interim results of the Company for the 6 months ended 30 June 2007. The Company has an encouraging pipeline of installations in relation to diagnostic and treatment centres within a number of medical centres and hospitals within China. From this pipeline the Company has entered into formal contracts for eight new diagnostic and treatment centres during 2007. The Directors believe that from the contracts signed, the Company will be able to launch six new diagnostics and treatment centres and one further HIFU centre by the end of the year. The Directors therefore expect to have 21 diagnostic and treatment centres and two HIFU centres by the end of the current year. The Company's Trading Division is in advanced negotiations on two equipment sales and hopes to pursue additional opportunities as they arise. As in previous years the Company expects to have a strong second half bias to its financial performance. However despite the positive operational performance of the Company, revenue for the first six months of the year will be significantly below expectations. Principally this is in connection with a key equipment sale expected to be now recognised in the second half of the financial year and as a result of discussions with a key diagnostic and treatment centre in relation to the terms of an existing contract. Due to the discussions on the terms of the contract, the Company has been unable to recognise revenue from that contract until an agreement is formalised. It is hoped that this will happen before the end of the year. The Directors will update shareholders once the equipment sale and the contract discussions are finalised. Additionally the Company has experienced a reduction in both gross and operating margins. The gross margins have been principally affected by the recognition of cost, but not as yet revenue, in the diagnostic and treatment centre in which the Company is in discussions (as detailed above). Operating margins have also been reduced by higher than expected operating and administrative expenses. The Directors intend to undertake a number of actions in order to position the Company for the financially important final quarter. This action will focus principally on new installations, a resolution of the contract discussions as identified above and a cost control programme to be monitored by the non-executive directors alongside the finance director. Despite these actions and the anticipated stronger financial performance of the Company during the second half of the year, there can be no certainty that net profit will be in line with market expectations for the year ended 31 December 2007. Further guidance will be provided in the interim results which the Company expects to announce no later than the last week of September. 7 September 2007 Enquiries: China Medstar Ltd Tel: +86 (10) 5825 6867 Dr Cheng Zheng, Chairman and CEO/ Yap Yaw Kong, CFO Evolution Securities China Nick Martin Tel: +44 (0) 20 7220 4850 Evolution Securities Tel: +44 (0) 20 7071 4300 Tom Price/Bobbie Hilliam Nexus Financial Ltd Tel: +44 (0) 20 7451 7050 Nicholas Nelson/Kathy Boate END
1 Year China Med Chart |
1 Month China Med Chart |
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