HK's Oriental Press hits over 3-year high on robust earnings estimates

Oriental Media

03/06/2021 06:02

** Shares of Oriental Press Group Ltd  0018.HK  jump as much
as 15.1% to HK$0.61, on course for the best session since April
2018
    ** Stock hits the highest since November 2019 
    ** The publication group expects to post a net profit of not
less than HK$200 mln ($25.8 mln) for fiscal year ended in March
2021, as compared to a loss of HK$11.6 mln in 2020, thanks to a
decrease in production costs and operating expenses  urn:newsml:reuters.com:*:nFWN2NJ124
    ** Says one off subsidies from government and an increase in
fair value of investment properties also contribute to profit
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
eases 0.1%, and the benchmark index  .HSI  slips 0.4%
    ** As of last close, the stock had surged 19.1% this year 


($1 = 7.7580 Hong Kong dollars)

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