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China Weaving Materials Holdings Ltd gives H1 2014 profit outlook


Friday, 8 Aug 2014 12:04am EDT 

China Weaving Materials Holdings Ltd:Expects to record a substantial decrease in its consolidated net profit for H1 2014 as compared to that for H1 2013.Expected substantial decrease in the consolidated net profit is mainly due to the decline in turnover and gross profit of the Group as a whole and reduction in other income as a result of reduction in both government grant and income from scrap sales.Decline in turnover and gross profit of the Group was mainly attributable to the general weakness in the market conditions of the textile industry in the People‚Äôs Republic of China during the interim period. 

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