Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

Trading Update and Notice of Results

21st Oct 2013 07:00

RNS Number : 9021Q
Sorbic International PLC
21 October 2013
 



 

Press Release

21 October 2013

 

Sorbic International Plc

("Sorbic" or the "Company")

 

Trading Update and Notice of Results

 

Sorbic International plc (AIM:SORB), the third largest sorbates producer in China, today gives the following update on trading.

 

The Company is pleased to announce that trading for the period to 31 August 2013 was ahead of expectations, with EBITDA increasing and margins showing significant improvement. The Board is pleased with the Company's performance and anticipates that results for the full year will exceed market expectations. The Company is in ongoing negotiations with regard to Sorbic's facility in Inner Mongolia, as previously announced, and a further update will be provided in due course.

 

The Board is currently evaluating the Company's options and will be appointing an adviser to assist in developing its long term strategy.

 

The Company also announces that it will be reporting its preliminary results for the year ended 30 September 2013 on Tuesday 10 December 2013.

 

- Ends -

 

 

For further information:

Sorbic International plc

Tel: +44 (0)7768 031 454

John McLean, Chairman

www.sorbicinternational.com

finnCap

Geoff Nash / Ben Thompson

Simon Starr (broking)

Tel: +44 (0) 20 7600 1658

 

Media enquiries:

Abchurch Communications

Henry Harrison-Topham / Joanne Shears

Tel: +44 (0)20 7398 7709

[email protected]

www.abchurch-group.com

 

Notes to Editors: www.sorbicinternational.com

 

About Sorbic International plc

Sorbic International's principal activity is the production and sale of the food preservatives Sorbic Acid and Potassium Sorbate from its base in Linyi City, Shandong Province, Peoples Republic of China. Approximately half of Sorbic International's production is sold to overseas markets, across 46 countries and half into the Chinese domestic market.

 

Sorbic Acid is a naturally occurring organic compound that is used in all kinds of foods for its anti-decomposition and anti-fungus function and also in grains, medicines, cosmetics, toothpaste, tobacco, animal feed, latex, paper-manufacturing and pesticides. Potassium Sorbate is used to inhibit moulds and yeasts in many foods, such as cheese, wine, yogurt, dried meat, baked goods, cosmetics and pharmaceuticals.

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCBSBDGRSBBGXI

Related Shares:

Sorbic International
FTSE 100 Latest
Value8,219.40
Change-29.72