Brief: Prosperous Industrial (Holdings) Sees Decline In FY Profit Attributable

Prosperous Industrial (Holdings)

20/12/2019 13:46

Dec 20 (Reuters) - Prosperous Industrial (Holdings) Ltd
 1731.HK :
    * EXPECTED THERE WILL BE A SIGNIFICANT DECREASE IN PROFIT
ATTRIBUTABLE FOR YEAR
    * GROUP IS EXPECTED TO RECORD ONE-OFF COSTS OF NOT LESS THAN
US$6
MILLION IN 2019
    * EXPECTED TO RECORD ONE-OFF COSTS OF NOT LESS THAN US$6
MILLION
IN 2019 DUE TO SCALE-DOWN OF OPERATION IN PRC
    * GROUP HAS CEASED OPERATION OF PRODUCTION PLANTS IN
DONGKENG,
DONGGUAN AND XINFENG, JIANGXI
    * GROUP WILL FURTHER SCALE DOWN OPERATION IN PRC BY CLOSING
DOWN
ITS PRODUCTION PLANT IN GUANGZHOU BEFORE END OF 2019
    * GROUP INTENDS TO LEASE OUT FACTORY BUILDING OF GUANGZHOU
PRODUCTION PLANT AFTER CESSATION OF ITS OPERATION
    * REALLOCATES SOME NET PROCEEDS TO COMPENSATE STAFF AT
GUANGZHOU
PRODUCTION PLANT, RENT FACTORY SITE IN VIETNAM

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 (Reuters.Briefs@thomsonreuters.com)