WORLD TRADE SYSTEMS PLC ('Company' or 'Group')
Announcement of Audited Annual Results for year-end 2017
The board is pleased to announce the audited full year financial results for the year ended 31 December 2017. These results mainly reflect the business activities of the Company's wholly owned subsidiary in China, Shimao (Suzhou) Biotechnology Co., Ltd ("WTS China"), but also detail the efforts of the Company to diversify its revenue streams through the development of co-operative ventures with other international health food and health care companies. The directors believe that the Group's future growth will be international as well as domestic Chinese, remaining focused on achieving the vision to be a "gateway to China" by expanding the depth and range of its health care and natural beauty enhancing products.
The Group achieved a net profit for the 12 months 1 January 2017 to 31 December 2017 of £1.377 million (12 month to 31 December 2016: £527,000) with the UK holding company registering a profit of £296,115. This is primarily due to the positive effect of Kudrow Finance Limited waiving the accrued interest of £241, 000 on its outstanding loans. WTS China alone registered a net profit of £1.264 million (12 month to 31 December 2016: £761,000).
I am pleased and proud to be able to make this announcement on behalf of the board and all of the employees who have worked incredibly hard over the past year. The board hopes to continue reporting positive updates and results in relation to the Group's future developments and plans in due course.
April 06, 2018
More information can be found on the company's website www.worldtradesystemsplc.com.
For enquiry, please contact Executive Director, AKM Ismail, Tel: +44 (0)1494 590515, email: [email protected]
Click on, or paste the following link into your web browser, to view the associated PDF document.
This information is provided by RNS