16th Feb 2015 08:49
LONDON (Alliance News) - Chinese business-to-business e-commerce operator JQW PLC saw its shares surge higher on Monday morning after the company said its revenue for 2014 will be ahead of market expectations.
JQW said revenue for the year to the end of December was around CNY784 million, up from the CNY490 million reported a year earlier. Pretax profit for the year is expected to be around CNY212 million, up from CNY170 million last year.
At the end of the year, the company said it had 241,000 active fee-paying members, up from 221,000 at the end of June 2014 and 197,000 at the end of December 2013.
"The board is extremely pleased with the solid progress that the group has made throughout 2014. Trading in the new financial year has started positively, and we are close to finalising the development of our platforms for smartphone users which will further broaden our offering and take advantage of the rapidly growing Chinese B2B e-commerce market," said Yongde Cai, JQW's chairman.
Shares in the company were up 13% to 12.32 pence on Monday morning, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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