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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 |
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China Medstar Limited ("Medstar" or the "Company")
Pre-Close Trading Statement
The Company announces a pre-close trading statement for the 12 months ended 31
December 2008.
Medstar's diagnostic and treatment centre division continues to trade strongly.
At the year end the Company had under management 17 diagnostic and treatment
centres, two high intensity focused ultrasound ('HIFU') centres and one Leksell
Knife Centre. In addition agreements have been entered into to provide a number
of further diagnostic and treatment centres during the first half of the new
financial year. Accordingly, the Board is pleased to confirm that trading
within this division remains broadly in line with the management expectations
set at the time of the interim results in September 2007. Further opportunities
continue to be pursued by the Company and the Directors remain comfortable with
the roll out plan for new centres in 2008.
Talks remain ongoing with a large existing treatment centre in relation to the
terms of a key contract. The Company will be unable to recognise revenue from
this contract until an agreement is formalised and shareholders will be updated
as appropriate.
The Trading Division suffered from a disappointing period. Whilst the Company
was able to execute a large equipment sale in November 2007, the two major
equipment sales budgeted for the final quarter did not complete and are now
likely to be completed during 2008.
The above delay is likely to have a material impact on both revenue and profit
for 2007 and lead to the overall results of the Group to be below market
expectations. In view of this, the Board will place the possible payment of a
dividend for 2007 under review.
Dr. Cheng Zheng, Chairman and CEO, commented:
"Today's trading update follows a year of investment and growth in the Company.
Clearly while the Board is disappointed with the delays in equipment sales, the
diagnostic and treatment division continues to benefit from continued
investment and new openings.
"The operating environment for Medstar remains intact with demand for our
products and services, potentially, greater than ever as the China cancer
crisis persists. Our relationships at national and local level remain strong
and I believe that the sound investment case for Medstar continues."
5 February 2008
Enquiries:
China Medstar Ltd Tel: +86 (10) 5825 6867
Dr Cheng Zheng, Chairman and CEO
Yap Yaw Kong, CFO
Evolution Securities China Tel: +44 (0) 20 7220 4850
Nick Martin
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
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