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China 33 Media Group Ltd Comments On FY 2012 Earnings Guidance


Wednesday, 23 Jan 2013 07:00am EST 

China 33 Media Group Ltd announced that for fiscal 2012, it expects to record a loss for as compared with a profit made for the corresponding period in 2011. The Board believes that the loss was mainly attributable to the decrease of profit margin as a result of amortisation of the agency fee, maintenance fees and media service fees paid for the advertisement project on headrests cover sheets, folding tables and poster frames on high-speed railway trains, increase in staff costs by increment of headcounts, increase in printing costs for the printed media business, as well as agency fees to the Group’s publishing partners and the Beijing Aoshen Contractual Dispute which Beijing Aoshen may be liable to pay damages of approximately RMB4.7 million (details of which are included in the 2012 December Announcement). In addition, less advertising orders from property developers and companies related to property development due to imposition of control measures on the real estate sector by the PRC government also caused the revenue for the period to drop significantly as compared with the corresponding period in 2011. 

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24 Oct 2014