Trading Update on the Fourth Quarter of 2013
January 22,2014
The Board of Directors of OIM Plc informs the market about the Company’s progress in realizing its strategy.
Fleischhauer
The Company’s subsidiary Fleischhauer still continues with a strong business development and further increasing profits. As a result, the Board of Directors of OIM Plc expects Fleischhauer’s budget plan to be above target, although net profit will be below realized profit of 2012. In 2012 Fleischhauer completed a couple of incidental large projects with very good margins. Also, the IFRS adoption of amended IAS 19 Statement (employee benefits) might result in Fleischhauer incurring an incidental extra cost over 2013 through the Profit and Loss account.
Your Drinks
After a long lead time, Your Drinks (49% ownership) now realized the first orders. The new management team has also acquired the rights to sell Mad-Croc & Croc Tail Drinks in the Netherlands, Germany and Austria.
Your Drinks has slowed down its process of contracting distributors and producers in China mainland and will now start first to deliver clients in Hong Kong, Shanghai and Macau with products produced in Europe. To this end, the legal structure has been completed, all subsidiaries (100% ownership) have been established successfully in the aforementioned countries. Official permits to sell the products have been granted.
Your Drinks also placed a European sales manager in Macao, who will be able to work and live in the same time zone and environment.
First orders from the Orient are expected in the first quarter of 2014.