31st Dec 2013 08:09
LONDON (Alliance News) - Vmoto Ltd, the electric scooter manufacturer, said Tuesday that December trading is in line with management expectations, and it still expects to make its first annual profit for the financial year ending December 31 2014 of between AUD300,000 and AUD600,000.
Vmoto said that it had another profitable month in November, making a profit of AUD201,000.
It said that it opened two new retail stores in November in the Lishui District in Nanjing, and it saw positive retail trading from its eight stores, selling a total of 3,197 units through its retail stores to the end of November.
Vmoto said that it remains on track to produce 42,000 PowerEagle electric scooters by the end of the financial year, having already produced 41,514 units by the end of November.
The company is expected to release an operational review and outlook for the full 2013 results by the end of January 2014.
Vmoto shares were trading 4.1% higher in London Tuesday morning at 1.64 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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