Brief: AB Builders Group Sees Net Loss For Six Months Vs Net Profit
09/07/2020 15:55
July 9 (Reuters) - Ab Builders Group Ltd 1615.HK :
* SEES NET LOSS FOR SIX MONTHS VERSUS NET PROFIT
* EXPECTED RESULT DUE TO NUMBER OF PROJECTS GENERATING
REVENUE
DURING HY ENDED 30 JUNE 2020 WAS LESS THAN THAT PCP
* ALL EXECUTIVE DIRECTORS AGREED TO TAKE A PAY CUT BY 30%
* FACING A CHALLENGING PERIOD FOR WHOLE YEAR OF 2020
* ALL SENIOR MANAGEMENT AGREED TO REDUCE THEIR SALARIES BY
20%
FROM JUNE TO AUGUST 2020
* IMPLEMENTED SALARY REDUCTION SCHEME FOR ITS STAFF
* EXPECTS ALL COST-SAVING MEASURES TO BE EXTENDED TO END OF
YEAR
Source text for Eikon: urn:newsml:reuters.com:*:nHKS2CMLTx
Further company coverage: 1615.HK
((Reuters.Briefs@thomsonreuters.com;))
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