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Fairson Holdings Ltd Comments On FY 2013 Earnings Guidance


Tuesday, 11 Jun 2013 11:00am EDT 

Fairson Holdings Ltd announced that for fiscal 2013, it expects to record an increase in the consolidated loss as compared with the consolidated loss for fiscal 2012. Based on the information currently available, the Board believes that the increase in the consolidated loss was mainly attributable to: (i) the operating loss in the business segment of copper wires, of which this business operation had been ceased since late September 2012; (ii) the decrease in the profit margin as a result of the intensified market competition under the global economic downturn; (iii) the increase in staff costs partly due to the increasing minimum wage level of the staff in the People‚Äôs Republic of China and (iv) the fair value loss on a financial asset at fair value through profit or loss. 

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