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Lung Kee (00255) expects 1H profit to drop >40%
12 Jul 2019
(Infocast News) Lung Kee (Bermuda) Holdings (00255) expects its consolidated profit attributable to the owners of the company for the six months ended 30 June 2019 to decrease by more than 40% on year mainly due to the fact that the negative impact of the intensified trade war between China and the United States still affects the market, while the domestic market in China has subsided. The reduction of aggregate purchase orders in the market coupled with the relatively fixed operation costs resulted in the decrease in the company's revenue and gross profit margin.


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