China Oriental warns of significant 2008 profit fall

HONG KONG, Feb 20 (Reuters) - Steel producer China Oriental (0581.HK) said on Friday the group's 2008 financial performance and profits may show a significant fall as selling prices of its products dropped as a result of the global economic downturn.

The company told the stock exchange the profit warning was based on a preliminary, unaudited assessment by the board.

The statement gave no figures.

For full company statement, click: here. (Reporting by Nerilyn Tenorio; Editing by Jacqueline Wong)