Trading Update
15 Décembre 2009 - 8:00AM
UK Regulatory
TIDMZRX
RNS Number : 1062E
Zirax PLC
15 December 2009
Zirax plc
("Zirax" or the "Company")
Trading update
Zirax, the AIM quoted speciality chemical company focused on the development,
production and sale of oilfield process chemicals and de-icing solutions, today
announces an update on current trading.
At the time of the release of the interim results on 25 September 2009 we
remained confident that demand for the Company's products was still strong,
despite the difficult trading conditions experienced in the first half. In many
areas of the business, particularly for de-icing products, this remains the
case, although even in this sector it is not as good as we anticipated. However,
Rosneft, Zirax's principal customer in the oil and gas segment, historically
accounting for approximately 50% of volumes, has recently placed lower orders
than previously anticipated and has now indicated that it will not be placing
further orders this year.
Given this reduction in volumes we are now anticipating that sales in the second
half of 2009 will only be marginally ahead of the first half and this will
result in further losses being incurred for the second half. The level of losses
in the second half is expected to be below those experienced in the first half
and the Company remains confident that it has sufficient financial resources for
its current needs.
Enquiries:
+--------------------------+--------------------------+-------------------------+
| Zirax | Fenlon Dunphy, CEO | T: +44 (0)20 7868 1694 |
+--------------------------+--------------------------+-------------------------+
| | | |
+--------------------------+--------------------------+-------------------------+
| Westhouse Securities | Tim Metcalfe | T: +44 (0)20 7601 6100 |
+--------------------------+--------------------------+-------------------------+
| | Martin Davison | |
+--------------------------+--------------------------+-------------------------+
| | | |
+--------------------------+--------------------------+-------------------------+
| Cardew Group | Tim Robertson | T: +44 (0)20 7930 0777 |
+--------------------------+--------------------------+-------------------------+
| | David Roach | |
+--------------------------+--------------------------+-------------------------+
| | Daniela Cormano | |
+--------------------------+--------------------------+-------------------------+
About Zirax
Zirax is a speciality chemical company manufacturing and supplying oilfield
process chemicals and de-icing solutions to a global customer base. Zirax is the
second largest supplier of calcium chloride pellets globally and the leading
supplier in the Eastern Hemisphere. Zirax is quoted on AIM section of the London
Stock Exchange (ticker: ZRX), is headquartered in London and has supply sources
based in Western Europe and Russia. More information is available at
http://www.zirax.com
This information is provided by RNS
The company news service from the London Stock Exchange
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