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China Agri Industries Holdings Ltd Comments On H2 2012 Guidance; Comments On FY 2012 Net Profit Guidance

Friday, 1 Feb 2013 09:00am EST 

China Agri Industries Holdings Ltd announced that for the second half of 2012 (the “Company”, together with its subsidiaries, the “Group”) it expects that the results has improved compared to the results for the interim period of 2012. The results expected for the second half of 2012 is comparable to the results of the second half of 2011. Despite this, the Group will still record a substantial decrease in its consolidated net profit for fiscal 2012 as compared to fiscal 2011, while the decline will be obviously modest compared to the interim period. The board of directors of the Company believes that the performance of the Group for the year was mainly affected by the following factors: the challenging macro-economic and industry environment imposes a margin squeeze on the oil, starch and rice products of the Group; and the slowdown in Renminbi appreciation substantially reduces the Group’s exchange gains as compared to 2011. 

Company Quote

-0.01 -0.28%
2:40am EDT