NEWTREE GROUP (01323.HK) +0.010 (+0.405%)
issued a profit warning, expecting to record a significant loss for the
six months ended September, compared with same period last year.
The decrease was mainly due to the expected loss of Hygienic Disposable Business as a result of decrease in turnover due to keen competition and slow recovery of the global market as well as increase in labour and raw material costs; increase in staff costs and rental expenses included in the administrative expenses; increase in the finance expenses regarding the effective interest expenses on convertible bonds; the non-cash impairment losses on other intangible assets due to the decrease in estimated future
profitability and loss arising from fair value adjustment on financial instruments.
The decrease was mainly due to the expected loss of Hygienic Disposable Business as a result of decrease in turnover due to keen competition and slow recovery of the global market as well as increase in labour and raw material costs; increase in staff costs and rental expenses included in the administrative expenses; increase in the finance expenses regarding the effective interest expenses on convertible bonds; the non-cash impairment losses on other intangible assets due to the decrease in estimated future
profitability and loss arising from fair value adjustment on financial instruments.
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