New Trend Lifestyle Group plc Trading Update (0618B)

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RNS Number : 0618B

New Trend Lifestyle Group plc

30 March 2017

30 March 2017

For immediate release

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

New Trend Lifestyle Group Plc

("NTLG" or the "Company")

Trading Update

New Trend Lifestyle Group Plc (AIM: NTLG), the Singapore-based Feng Shui products and services group, announces a trading update. As highlighted in the Company's interim results to 30 June 2016 published in September 2016, trading conditions for the Company remain challenging in Singapore, and the Company has continued to experience declining sales during the second half of the year. In addition, sales for the first two months of this financial year are significantly down when compared to the same period last year. The Company continues to develop new sales and marketing initiatives to generate revenue, whilst tightly controlling costs. The Directors believe that these tough trading conditions are expected to continue throughout the rest of the financial year. The Company's cash balances (unaudited) were S$1.9million as at 28 February 2017.

In line with our stated strategy, the Board has evaluated several potential acquisition targets, however, to date, none of these have been suitable for the Company to take forward. The Board will continue to source new targets, and will provide an update as and when appropriate.

The Company intends to publish its final results for the year ended 31 December 2016, in early June.

For further information:-

 
 New Trend Lifestyle Group Plc                +44 (0) 7830 
  Gregory Collier, Non-Executive Chairman      182501 
 SPARK Advisory Partners Limited 
  (NOMAD)                                     +44 (0) 20 
  Mark Brady /Neil Baldwin                     3368 3551 
 SI Capital Ltd                              +44 (0) 1483 
  Nick Emerson / Andy Thacker                 413500 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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March 30, 2017 10:01 ET (14:01 GMT)