29th Jul 2014 10:26
LONDON (Alliance News) - Camkids Group PLC saw its shares rise Tuesday after it said it continues to trade in line with market expectations, supported by retail store expansion and its fledgling e-commerce business.
The Chinese designer and manufacturer of kids and teenage outdoor clothing said it has made good progress in the first-half of the year and its e-commerce business is building momentum.
"Trading across the group's stores is going well and that trading across all of the group's divisions continues to be in line with market expectations for the current financial year," said Chairman and Chief Executive Zhang Congming in a statement.
Camkids shares were trading 7.9% higher at 58.25 pence Tuesday morning.
During the six month period, the group added 51 new retail stores, while making strong progress with its strategic expansion into fast-growing tier three and four cities in China, it said.
The group has been focusing on developing its e-commerce business, a channel it expects to become a significant part of its future. It has also been increasing its marketing activities.
"Marketing remains a key focus of the Group and the new Camkids branding is currently being implemented across all of its retail stores prior to the launch of a new TV advertising campaign," the company said.
Camkids said it is currently in 'advanced talks' about acquiring land for a new proposed manufacturing facility.
"We are currently in advanced negotiations on a site which is located near to the train station in our home town of Jinjiang," said Congming.
The group has been working on its new product range, which it said it will showcase to its distributors at the 2015 Spring/Summer Sales Fair, held in Jinjiang next month.
The company said it will announce its interim results for the six months to June 30 in September.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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