31st Jan 2013 07:00
Press Release | 31 January 2013 |
Camkids Group plc
("Camkids" or the "Group" or the "Company")
Positive Trading Update
Camkids Group plc (AIM: CAMK), a leading Chinese designer, manufacturer and distributor of branded outdoor clothing, footwear and equipment for children and teenagers, is pleased to give the following positive trading update for the year ended 31 December 2012.
The Board is pleased to confirm that the Company expects to report results ahead of market expectations for the financial year ended 31 December 2012. This was achieved even though the Group incurred one-off costs arising from its IPO on AIM in December 2012. The Company is also encouraged that the H1 2013 order book, following the spring/summer seasonal sales fair held in Q4 2012, is more than 22 per cent. ahead of the H1 2012 order book.
Across the Group's outdoor clothing and footwear divisions the Company has achieved rises in the average selling price of its products, which has enabled Camkids to maintain its gross profit margin despite fluctuations in production costs. The Company sells its products into a total of 1,118 Camkids branded stores in China (an increase over the number of branded stores reported in the Group's admission document as at 30 June 2012) through its network of distributors, as well as two that are owned by the Company, including the Camkids' flagship store in Jinjiang City.
Zhang Congming, Chairman and Chief Executive Officer of Camkids Group plc, said: "The Board is encouraged by the strong progress that the Company is making, particularly in increasing the average selling price of its outdoor clothing, footwear, equipment and accessories. Our order book has successfully grown from the same period last year and the Board is optimistic about the Group's performance for the current financial year."
The Group will be announcing its Preliminary Results for the year ended 31 December 2012 towards the start of April 2013 at which point it plans to hold an analyst briefing. Further details of the exact date of the release of the Group's results and the arrangements for the analyst briefing will be announced at the appropriate time.
Camkids has produced a short video, which provides an overview of the Group and its products and this can be accessed from the Company's investor relations homepage, http://www.camkids-ir.com
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For further information:
Camkids Group plc | |
Zhang Congming, Chairman and Chief Executive Officer | Tel: +44 (0) 20 7398 7709 |
Ng Pei Eng, Chief Finance Officer | www.camkids-ir.com |
Allenby Capital Limited | |
Alex Price / James Reeve / Nick Athanas | Tel: +44 (0) 20 3328 5656 |
www.allenbycapital.com |
Media enquiries:
Abchurch Communications Limited | |
Henry Harrison-Topham / Harriet Rae | Tel: +44 (0) 20 7398 7702 |
www.abchurch-group.com |
Notes to Editors
Camkids is a leading Chinese designer, manufacturer and distributor of branded outdoor clothing, footwear and equipment for children and teenagers.
Based in Fujian province in China, the Group focuses on teenage sportswear for outdoor activities, combining functionality and innovation. The products are mid-range price based, targeting mid and high range markets within China.
The three main product areas are:
·; Camkids outdoor clothing - all weather jackets, waterproof trousers, shirts, tops and T-shirts, woollen sweaters, jeans, trousers shorts and skirts;
·; Camkids footwear - hiking boots, outdoor leisure footwear, flip-flops, sandals and boots
·; Camkids equipment and accessories - telescopes, backpacks, technical packs, tents, sleeping bags, headgear, caps, kettles, headlights and torches.
The Group designs its entire product range and manufactures the majority of its footwear. Outdoor apparel and accessories are currently manufactured by third party OEMs.
The children and teenagers outdoor and sportswear market is currently worth RMB10.9 billion in annual sales and is forecast to grow at a CAGR of 16.9%* between 2012 and 2016. The Group currently has an 11.1%* market share by total sales volume.
Camkids' primary route to market for the sale of its products is through its network of distributors. The Group has established an extensive distribution network across 29 provinces, 4 municipalities and 5 autonomous regions within the PRC. As at 30 June 2012, the Group had 15 authorised distributors operating over 1,000 retail outlets.
In 2010, Camkids was recognised as one of the top ten children's shoe brands at the China Shoe Industry Summit Forum and in September 2012 was included as one of the top 500 brands in Asia.
For more information please visit www.camkids-ir.com.
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