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Fortune Sun (China) Holdings Ltd Comments On H1 2013 Earnings Guidance

Monday, 29 Jul 2013 08:06am EDT 

Fortune Sun (China) Holdings Ltd announced that, based on the preliminary review of the unaudited consolidated management accounts of the Company for the first half of 2013 and currently available information, the Company expects to record a loss attributable to owners of the Company for the first half of 2013, compared to a profit attributable to owners of the Company for the corresponding period of 2012. The decline was mainly attributable to (i) the Company's other income during the first half of 2012 arising from reversal of impairment losses made in prior years against certain trade receivables, trade deposits and other receivables as a result of recovery of several bad debts which was not repeated in the first half of 2013; (ii) the increase in the Company's cost of services rendered for the first half of 2013 as compared with the corresponding period in 2012; and (iii) the decline in the average commission rate for property sales agency services rendered by the Company for the primary residential and commercial property market in the People's Republic of China which affected the Company's revenue. 

Company Quote

-0.03 -2.63%
24 Oct 2014