Overall a good release and management are delivering in line with expectations with regard to maiden profit (tick). I note PowerEagle sales are due to increase by almost 20k next year which is a good sign of a strong relationship.
There is some misleading information in the market release regarding store sales that I will request the company clarify, the 'trading update' announcement out on 31/12 VMoto states:
"Positive retail trading from Vmoto’s total eight stores – 3,197 units sold through Vmoto retail stores to end of November 2013"
however in the quarterly VMoto state
"...Sales from Vmoto’s ten Chinese stores in the quarter were over 1,900 units.".
So why 3,1927 is higher than 1900 I believe the company needs to clarify the total number.
Overall a good release and management are delivering in line...
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