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Shougang Concord Century Holdings Ltd Comments On FY2012 Profit Guidance


Friday, 4 Jan 2013 08:00am EST 

Shougang Concord Century Holdings Ltd announced that for fiscal 2012, it expects to record a discernible loss as compared to a profit for fiscal 2011. Such discernible loss is primarily attributable to the followings: the substantial decrease in gross profit as a result of decline in average selling price of steel cords from increased market competition; significant allowance for doubtful debts in respect of the long aged trade receivables; and potential allowance for decrease in value of inventories. 

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22 Aug 2014