Brief: Asia Commercial Says Likely To Make Net Loss For FY

Asia Commercial Holdings

19/03/2020 15:18

March 19 (Reuters) - Asia Commercial Holdings Ltd  0104.HK :
    * LIKELY TO MAKE NET LOSS FOR FY AS COVID-19 MANIFESTED
ACROSS
HONG KONG & CHINA WHERE MAJOR BUSINESSES OF GROUP ARE LOCATED
    * GROUP'S REVENUE FOR FEBRUARY 2020 PLUNGED SHARPLY BY
AROUND 75%
TO AROUND HK$19 MILLION
    * BELIEVES SITUATION IN MARCH 2020 WILL NOT HAVE ANY
SIGNIFICANT
IMPROVEMENT IN EXISTING CIRCUMSTANCES
    * INFORMED BY MAJOR SUPPLIER THAT IT WILL NO LONGER SUPPLY
ITS
TIMEPIECES TO CO'S HONG KONG RETAIL STORE AFTER MID-AUGUST THIS
YEAR
    * RECOGNIZES THAT TERMINATION OF SUPPLY BY SUPPLIER WILL
NEGATIVELY IMPACT ON GROUP'S REVENUE, CASH FLOW AND NET PROFITS
    * SUPPLY OF BRANDED LUXURY TIMEPIECES FOR SALE IN GROUP'S
OTHER
STORES IN MAINLAND CHINA IS NOT AFFECTED

Source text for Eikon:  urn:newsml:reuters.com:*:nHKS6l1zYc
Further company coverage:  0104.HK 

 ((Reuters.Briefs@thomsonreuters.com;))