The board of directors of Fornton Group Limited announced to the shareholders of the company and the potential investors that, based on the Board's preliminary review of the unaudited consolidated management accounts of the Group, the Group is expected to record a significant decrease in profit or a loss for the year ended December 31, 2013, as compared with the profit recorded by the Group for the year ended 31 December 2012. It was primarily attributable to: (i) the decreases in turnover and gross profit margin of the Group as a result of the worsening of the market conditions and business environment and the severe competition of the textile industry; (ii) additional general and administrative expenses in seeking new revenue stream to diversify a business risk on single segment of manufacturing and trading of high quality fashion apparels; and (iii) additional compliance and professional expenses incurred for the proposed placing of new shares and convertible bonds.
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5-day change | 1st Jan Change | ||
0.119 HKD | -14.39% | -8.46% | +29.35% |
Annual profits - Rate of surprise
1st Jan change | Capi. | |
---|---|---|
+29.35% | 14.97M | |
+28.41% | 545B | |
+10.61% | 36.04B | |
-4.44% | 35.55B | |
+23.71% | 35.4B | |
+7.48% | 27.69B | |
-9.72% | 27.53B | |
+5.78% | 26.53B | |
+19.63% | 19.05B | |
+9.30% | 18.3B |
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