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NNK (03773) anticipates improvement in 1H profitability
12 Jul 2019
(Infocast News) NNK Group (03773) expects a significant decrease in loss, if not a turnaround to profit, for the first six months ended 30 June 2019. The company had a loss of RMB12.9 million for the six months ended 30 June 2018.

Such result was primarily attributable to: (i) the decrease in cost of revenue mainly due to decrease in commission fees charged by PRC banks and other channels for handling mobile top-up service requests via their electronic systems, as a result of reduction of the rates for commission fees charged by certain PRC banks and the group ceasing cooperation with certain third-party channel partners charging higher commission rates; (ii) the decrease in administrative expenses mainly due to a decrease in staff cost and adoption of cost control measures according to the group's continuous optimisation of its operating procedure during the Period; and (iii) decrease in finance costs mainly due to decrease in average bank borrowings.

(WL)
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