Brief: Regina Miracle International (Holdings) Sees Drop In Net Profit Of 90% Or More For Six Months

Regina Miracle International (Holdings)

22/10/2020 11:24

Oct 22 (Reuters) - Regina Miracle International (Holdings)
Ltd  2199.HK :
    * EXPECTED TO RECORD A DROP IN NET PROFIT OF 90% OR MORE FOR
SIX
MONTHS
    * EXPECTED TO RECORD A SMALL PROFIT, OR A LOSS UP TO HK$50
MILLION
FOR SIX MONTHS
    * EXPECTS TO RECORD A DROP IN NET PROFIT OF 90% OR MORE FOR
SIX
MONTHS
    * EXPECTS ORDERS TO RETURN TO NORMAL LEVEL IN H2 FISCAL 2021
    * REMAINS CAUTIOUSLY OPTIMISTIC TOWARDS SALES AND PROFIT
PERFORMANCE IN FISCAL 2021
    * REVENUE DECLINE NARROWED FROM ABOUT 30% IN Q1 TO LESS THAN
10%
IN Q2
    * ORDERS RECEIVED BY GROUP IN H2 FISCAL 2021 INCREASED
CONSIDERABLY FROM H1 FISCAL 2021
    * DECREASE IN PROFIT DUE TO TWO ONE-OFF ITEMS OF EXPENSES
FROM
STREAMLINING PRODUCTION CAPACITY AND HR

Source text for Eikon:  ID:nHKS5W4LLP 
Further company coverage:  2199.HK 

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