HK's Kingboard sinks to 2-1/2-year low on weak H1 forecast

Kingboard Holdings

09/07/2019 08:03

** Shares of Kingboard Holdings Ltd  0148.HK  fall as much
as 7.9% to HK$19.30, their lowest since November 2016, after the
printed circuit board maker forecast a sharp fall in its
first-half profit 
    ** Co expects first-half net profit to dive 60-65% from a
year-ago period in an absence of exceptional items when compared
with the same period in 2018, and underlying net profit to drop
35-45%  urn:newsml:reuters.com:*:nFWN2490BP
    ** Kingboard Holdings has underperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 2.4 percentage
points in the past one month
    ** Its unit Kingboard Laminates Holdings Ltd  1888.HK ,
which also forecast 30-40% fall in H1 profit, fell as much as
10.6% to HK$6.18, their lowest since Jan
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
eases 0.6%
    ** The Hong Kong benchmark index  .HSI  slides 0.7%
    ** As of Monday's close, Kingboard stock up 0.24% so far
this year


 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)