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Provider: Reuters Investment Profile
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EPI (Holdings) Ltd Comments On FY 2012 Profit Guidance; Sees FY 2012 Charge Guidance

Friday, 11 Jan 2013 05:23am EST 

EPI (Holdings) Ltd announced that it expects to record a considerable loss for fiscal 2012, which might be substantially higher than the loss for the year fiscal 2011. A slowdown of the local economy and the European sovereign debt crisis in 2012 has affected the Argentine government to take more drastic measures to ensure growth and keep the currency stable, such as import restrictions and severe capital controls. These policies are exacerbating economic stagnation and leading to political unrest. This provision for impairment for the exploration and evaluation assets costs, which is a non-cash expense item, will be charged to the profit and loss for the year fiscal 2012. 

Company Quote

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18 Jul 2012