Trading Statement
August 02 2007 - 3:02AM
UK Regulatory
RNS Number:3845B
China Biodiesel International Hold
02 August 2007
China Biodiesel International Holding Co., Ltd. ("the Company")
Pre-Close Trading Statement
The Company today announces a pre-close trading statement following the end of
the interim period. The Directors expect revenue for the first six months of the
year to be in line with management expectations. Gross margins continue to be
depressed compared with last year due to increased feedstock prices and stable
selling prices for diesel within China and internationally as highlighted at the
time of the AGM. However, gross margins are currently showing signs of
improvement.
In the second half of 2007 turnover will be affected by the consequence of the
earlier delays in building the extension to the plant in Longyan and the delay
in completing the new plant in Xiamen caused by poor weather in South China.
Full production is expected at the Longyan plant in the fourth quarter of 2007
and in the Xiamen plant in the first quarter of 2008.
As a consequence, revenue for 2007 is likely to be below previous guidance given
by the Company at the time of the AGM which will lead to reduced net profit for
the year ended 31 December 2007.
2 August 2007
This information is provided by RNS
The company news service from the London Stock Exchange
END
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