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GOME Electrical Appliances Holding Ltd Comments On FY 2012 Profit Guidance

Monday, 28 Jan 2013 05:17am EST 

GOME Electrical Appliances Holding Ltd announced that the Group expects to record a net loss for fiscal 2012, which is mainly attributable to a drop in the Group’s sales revenue, an increase in the Group’s rental expenses as well as loss incurred by the Group’s e-commerce business during the year. These factors are closely linked with the negative impact on the Group’s business brought about by the consumption overdrafts as well as poor consumer sentiments and confidence as a result of the China’s macro economic growth slowdown and economic stimulus policies termination, coupled with the fact that the Group’s e-commerce business is still at its integration and initial investment stage. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenues of $(433.63) million for fiscal 2012.