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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ebt Mobile | LSE:EBT | London | Ordinary Share | GB0033044313 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:5989F EBT Mobile China PLC 12 October 2007 For immediate release 12 October 2007 EBT Mobile China plc ("EBT Mobile" or the "Company") Wal-Mart partnership and National Holiday Sales EBT Mobile China plc, a leading China-based retailer of mobile phone products and services, is pleased to announce details of an expansion agreement with Wal-Mart and its sales for the recent National Holiday week. EBT Mobile announces it has signed an exclusive agreement with Wal-Mart China, the Chinese subsidiary of the leading global retailer, to be the only mobile retailer to operate inside Wal-Mart's stores in 8 provinces in China. At least 20 stores are expected to be opened under the agreement before the end of 2007. This expansion will enhance EBT Mobile's position in these cities and regions and represents significant progress in EBT's strategy of 'Win With Winners'. Overall sales during the holiday period were 45% ahead of those for the same period in 2006. EBT Mobile had 248 stores operating during the 2007 National Holiday period, compared to 158 stores during the 2006 period, which contributed to the overall growth in sales. Same store sales were down by approximately 14% against the comparable period in 2006. However, same store sales were negatively affected by the typhoon which hit Shanghai area on the last day of the holiday period, materially impacting that day's trading. In combination with growing the business via its aggressive store roll-out plan, management continues to focus on maintaining and improving margins rather than cutting prices to drive volume. In the second half to date management has been successful in improving its gross margin compared with performance in the first half. Trading during this National Holiday week in particular demonstrated a notable year on year improvement. As a result management reiterates its confidence in meeting market expectations for the full year. Zhang Ge, CEO, said, "The cooperation with Wal-Mart adds another important partner to EBT's portfolio of trading relationships. We are delighted to have the opportunity of working with the top 4 retailers (Wal- Mart/Carrefour/Tesco/Metro) in China and hope to create further commercial advantages from these relationships in the future." "The recent trading performance is in line with our expectations for the holiday period, given the impact of the typhoon. We will continue to pursue our strategy of maintaining margins rather than discounting in a period of traditionally intense competition, and continue to drive both sales revenue and margin in the operation." For more information contact: Terry Garrett/ Stephanie Badjonat/ John Moriarty Weber Shandwick Financial 020 7067 0700 Aubrey Powell/ Giles Stewart 020 7459 3600 Panmure Gordon (Broking) Limited This information is provided by RNS The company news service from the London Stock Exchange END MSCMBBRTMMJBBTR
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