25th Sep 2014 11:55
LONDON (Alliance News) - Chinese business-to-business e-commerce company JQW PLC Thursday said it was unaware of any reason for the recent drop in its share price, and said it is trading in line with expectations for the full year.
The company's shares were down 8.5% in midday trade today to 39.79 pence. They are down by a third in the past week.
JQW said it was pleased with the performance of the company in the first half of its current financial year and said the business is trading in line with market expectations for all of 2014.
On September 9, the company posted a pretax profit of CNY105.2 million in the six months to June 30, up from CNY70.8 million a year earlier, as revenue rose to CNY346.1 million from CNY180.8 million.
The company proposed a special dividend of 5.0 pence, along with its maiden interim dividend of 0.2 pence, when posting its results.
By Sam Unsted; [email protected]; @SamUAtAlliance
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