21st Oct 2014 11:35
LONDON (Alliance News) - Fabric importer Leeds Group PLC Tuesday said trading in the first four months of its financial year has been "satisfactory" and in line with its expectations.
The company, which operates through a German subsidiary and its Chinese unit, said it continues to seek additional growth through the appointment of additional agents in certain European territories.
In an annual general meeting statement to shareholders Tuesday, the company said it is "actively seeking" further opportunities by identifying "appropriate investments" that will strengthen the business.
"We will primarily target related or complementary businesses but will also evaluate other value enhancing opportunities where appropriate," said Non-Executive Chairman Kathryn Davenport in the AGM statement.
Leeds said it also expects to complete in the second half of the year its projects to allow customers to buy online from both Hemmers in Germany and from ChinohTex in China.
Davenport resigned Tuesday following the AGM meeting, with her role as chairman being taken over by Jan Holmstrom, a director of the company.
Shares in Leeds were trading 1.4% lower Tuesday early afternoon at 35.50 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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