EC-Founder (Holdings) Co Ltd Comments On H1 2013 Earnings Guidance

Monday, 5 Aug 2013 05:09am EDT 

EC-Founder (Holdings) Co Ltd announced that for the first half of 2013, it expects an unaudited profit as compared to the consolidated net loss for the corresponding first half of 2012. The Directors are of the view that such increase is primarily due to the net effect of (including but not limited to) the one-off negative goodwill arising from the acquisition of the subsidiaries by the Group; increase in operating expenses of subsidiaries newly acquired; decrease in revenue and profit generated from the operating activities of the Group; and provision for a fine for late payment of the Chinese customs duties as disclosed in the announcement dated August 1, 2013. 

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