TIDMACHL

RNS Number : 8134K

Asian Citrus Holdings Ltd

02 August 2013

 
 For immediate release   2 August 2013

Asian Citrus Holdings Limited

("Asian Citrus" or "the Company")

Full Year Trading Update

The Company announced that based on the preliminary assessment of the unaudited management accounts, as a result of the key factors which impacted negatively the financial performance of the Company for the year as previously announced on 22 January 2013 and 28 March 2013, the turnover for the year ended 30 June 2013 is expected to be up to 20 per cent below the comparative figure for the prior year and the core net profit (profit for the year excluding the net change in fair value of biological assets and share-based payments) is expected to be up to 40 per cent below the comparative figure for the corresponding period.

The assessment of the net change in fair value of biological assets for the year ended 30 June 2013 is still under review. The Board wishes to emphasise that the net change in fair value of biological assets is non-operational and does not have any effect on cash flow for the year.

The information contained in this announcement is based only on the preliminary assessment of the unaudited management accounts of the Company for the year ended 30 June 2013 and the information currently available to the Board. The audit now being conducted by the auditors of the Company on the management accounts has not yet been completed and the management accounts may still be subject to adjustments. The full year results of the Group for the year ended 30 June 2013 are expected to be published in September 2013.

For further enquiries please contact:

 
 Asian Citrus 
  Tony Tong / Tommy Tong, Executive Director      +852 2559 0323 
 Cantor Fitzgerald Europe (NOMAD and 
  Joint Broker) 
  Rick Thompson (Corporate Finance)             +44 (0) 20 7894 7000 
 Richard Redmayne (Corporate Broking) 
 Liberum Capital Limited (Joint Broker) 
  Clayton Bush / Richard Bootle                 +44 (0) 20 3100 2222 
 Weber Shandwick Financial 
  Nick Oborne, Stephanie Badjonat, John 
  Moriarty                                        +44 (0) 20 7067 0700

This information is provided by RNS

The company news service from the London Stock Exchange

END

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