8th Jul 2013 07:00
Press Release | 8 July 2013 |
Camkids Group plc
("Camkids" or the "Group" or the "Company")
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 ahead of the Group's Interim Results for the six months ended 30 June 2013, which will be announced in September 2013.
The Board is pleased to confirm that trading across the Group's stores is going well and that trading across all of the Group's divisions continues to be in line with market expectations for the current financial year. The Group recently held a successful sales fair to showcase its autumn / winter 2013 collection to distributors and the Board is pleased to report that following this sales fair, Camkids' order book is up by 19% compared with the same period last year.
The Group continues to focus on increasing the number of Camkids branded stores in China through its network of distributors, and this has increased to a total of 1,193 stores. In particular, the Group recently appointed a new distributor and now has a presence in Shanghai with a total of five stores there. This represents an important milestone for the Group and a further deployment of the funds raised at the time of the Group's admission to AIM in December 2012 in accordance with the Group's stated use of proceeds at that time. This follows the Group's announcement on 28 May 2012 that the Group's fifth production line is now fully operational. The Board is pleased that this increased manufacturing capacity is enabling further growth.
Zhang Congming, Chairman and Chief Executive Officer of Camkids Group plc, said: "The Board is pleased to report continued progress across the Group's divisions of clothing, footwear, and equipment and accessories. With a growing order book, a strong network of distributors and the potential to further increase our manufacturing capability, the Board continues to view the future with confidence and looks forward to updating the market further when we issue our interim results.
We are particularly pleased to have delivered in key areas of our commitment to shareholders, particularly in relation to the utilisation of part of the proceeds raised at IPO."
- Ends -
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 | |
Joanne Shears / Harriet Rae | Tel: +44 (0) 20 7398 7709 |
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.
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 2013, the Group had 15 authorised distributors operating over 1,193 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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