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Asia Ceramics Holdings

  • BY: Andrew Hore |
  • POSTED: 16/08/2013 |

China-focused ceramic tiles retailer and distributor Asia Ceramics Holdings fell into loss in the first half of 2013 although it was cash generative in the period. 

In the six months to June 2013, revenues declined from 5.78m to 4m and a profit of 273,000 was turned into a loss of 46,000. The cash position improved from 497,000 to 680,000. There are borrowings of 172,000 and a 500,000 loan from the chief executive.

Asia Ceramics has been hit by increased competition although exports have improved. The second half performance will be similar to the first half. 

At 55.5p a share, Asia Ceramics is valued at 6.1m.

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