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Provider: Thomson Reuters Stock Report
Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: KGI Greater China

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361 Degrees International Ltd Comments On FY 2012 Profit Guidance

Friday, 18 Jan 2013 06:00am EST 

361 Degrees International Ltd announced that based on a preliminary review of the Company's unaudited management accounts for fiscal 2012 and the information currently available to the Board, the Board estimates that for fiscal 2012, the Company will likely record a decrease in profit of approximately 40%, as compared to that for fiscal 2011. The decrease in profit is principally attributable to the continued challenging landscape facing the sportswear industry in China as high sector inventory level and retail discounting pressure continued to weigh on the sector’s performance amidst intensified competition throughout the year 2012 which resulted to (1) a decrease in the general sales volume, (2) a pressure on the gross profit margin and (3) a higher selling expenses as compared to the year ended 31 December 2011. 

Company Quote

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17 Apr 2014