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A & S GROUP (01737) expects to swing to loss in FY19
23 Sep 2019
(Infocast News) A & S Group (Holdings) (01737) announced that the group is expected to record a net loss attributable to owners of the company for the six months ending 30 September 2019 as compared with a net profit recorded for the corresponding period in 2018.

The board of the company considers that the aforesaid turnaround from profit to loss position was primarily attributable to (i) the decrease in overall cargo volume processed for both the air freight forwarding ground handling services and the air cargo terminal operating services for the four months ended 31 July 2019, both possibly due to the outbreak of trade war between the United States and China commenced in or around mid-2018, (ii) as the group have to maintain a stable workforce to sustain its daily operation, the overall labour cost was not able to reduce immediately to the same extent as compared to the decrease in overall revenue and handling volume for its services under such uncertain trading environment, and (iii) the adversity in business environment resulted from the recent events in Hong Kong over the past two months. (WL)
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