Brief: Kingdom Holdings expects HY net profit to decrease by approximately 30 pct

Kingdom Holdings

18/07/2016 10:31

July 18 (Reuters) - Kingdom Holdings Ltd  0528.HK : 
 
 * Inside information profit warning  
 * Expected to record approximately 20% decrease in revenue from the sales of 
linen yarn for six months ended 30 June 2016 
 * Expected decrease in revenue primarily due to the slower sales orders than 
expected 
 * Group is currently expected to have lower HY gross margin as a result of 
strategic reduction of average selling price of linen yarn 
 * Group expected to record an unrealised fair value gain of RMB9 million on 
derivative financial instruments for the six months ended 30 June 2015 
 * Expects net profit for six months ended 30 June to decrease by approximately 
30% 
 
   Source text for Eikon  urn:newsml:reuters.com:*:nHKS7BsCbB 
 
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