Brief: Li Bao GE Group Sees Loss Attributable Of Not Less Than Hk$55 Mln For Year

Kafelaku Coffee Holding

03/03/2020 11:40

March 3 (Reuters) - Li Bao Ge Group Ltd  1869.HK :
    * SEES LOSS ATTRIBUTABLE OF NOT LESS THAN HK$55 MILLION FOR
YEAR
    * EXPECTED RESULT DUE TO OVERALL DECREASE IN REVENUE OF
GROUP'S
RESTAURANTS
    * EXPECTED TO RECORD A LOSS ATTRIBUTABLE OF NOT LESS THAN
HK$55
MILLION FOR YEAR VERSUS PROFIT ATTRIBUTABLE OF ABOUT HK$2.3
MILLION
    * CEASED OPERATION OF SHEUNG WAN RESTAURANT & BEIJING HOUSE
RESTAURANT IN HONG KONG IN FEB 2020
    * EXPECTS FINANCIAL PERFORMANCE IN H1 OF 2020 WILL BE
SIGNIFICANTLY DETERIORATED AS COMPARED TO SAME PERIOD IN 2019
    * GROUP HAS BEEN SHORTENING OPERATION HOURS OF ITS
RESTAURANTS IN
HONG KONG DUE TO CORONAVIRUS EPIDEMIC
    * GROUP'S RESTAURANTS, TEA HOUSES LOCATED IN SHENZHEN,
CHINA,
SUSPENDED OPERATION SINCE LATE JAN & ARE YET TO RESUME OPERATION

Source text for Eikon:  ID:nHKS9LLQWP 
Further company coverage:  1869.HK 

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