3rd Aug 2015 08:37
LONDON (Alliance News) - Vmoto Ltd said Monday it traded in line with its expectations in its second quarter, and said it expects to see a rise in production and sales over the coming months in line with its previous guidance.
The electric-powered scooter manufacturer and distributor said it had sold over 22,000 units in the quarter to end-June, increased 13% from its first quarter. Within this it saw a higher number of units sold to higher-margin international markets, it said.
Vmoto said it was progressing with potential new customer and distributors in North America, Denmark, Switzerland and New Zealand, and continuing progress in establishing its online-based retail sales network, which it expects to be operational by the end of 2015.
It has signed a distribution deal with a UK company to distribute, stock and market its Vmoto and E-Max range of electric scooters in the UK and Ireland, and this distributor has placed its first order for 40 units to be delivered in the third quarter.
"Interest levels in our electric vehicle products remain high. A number of old and new customers visited the factory during the quarter seeking to enter into new orders or agreements for our electric two-wheel vehicle products," said Managing Director Charles Chen in a statement.
Shares in Vmoto were untraded Monday morning. It last closed at 18.25 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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