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Provider: Wright Reports
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Ares Asia Ltd Comments On FY 2013 Profit Guidance

Monday, 3 Jun 2013 06:40am EDT 

Ares Asia Ltd expects to record a substantial increase in the loss for fiscal 2013 as compared to fiscal 2012. Based on the information currently available, in spite of the increase in the Group’s turnover generated from the coal trading business, the anticipated substantial increase in the loss fiscal 2013 was mainly attributable to the restructuring costs associated with the streamlining of the Manufacturing Business during the first half of 2013; the reported gross loss of the Manufacturing Business incurred prior to its cessation in January 2013 which was a result of the significant drop in sales in the second half of 2013. 

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-0.04 -2.78%
3:58am EDT