Loudong General Nice Resources Holdings Limited Provides Consolidated Earnings Guidance for the Six Months Ended June 30, 2016
August 24, 2016 at 01:44 pm
Loudong General Nice Resources (China) Holdings Limited provided consolidated earnings guidance for the six months ended June 30, 2016. For the period, the group may record a significant loss. The loss is primarily attributable to the increase in finance cost from the borrowings, the downturn of the commodities market leading to the decrease in revenue, amidst a slowing global economy and a tepid domestic market in China. The group is expected to record a reduction in loss compared with the six months ended 30 June 2015 mainly due to the absence of substantial impairment of accounts receivable.