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AVIC Int'l (00232) sees annual loss before tax to drop 50%

  AVIC International (00232) said it expects to
record a significant decrease of about 50% in loss before tax for the year ended 31
December 2017.
  The improvement in the loss position was mainly attributable to the decrease in the
losses of certain investments held by the Group, as well as a one-off gain on disposal of
convertible loans of about HK$87 million recorded.
  The is expected to record revenue from the property development and investment business
for the year ended 31 December 2017 of about HK$1.5 billion, representing a significant
increase as compared to the same period in 2016 (2016: about HK$100 million). However, as
a result of the significant increase in cost of sales (the inventories of properties from
the property development and investment business of the Group are expected to be impaired
and the impairment will be included in the cost of sales), the Group is expected to record
gross loss of about HK$200 million (2016: gross profit of about HK$30 million).
  Its annual results announcement is expected to be published in March. 

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