February 28, 2020 / 10:29 AM / in a month

BRIEF-1957 & Co (Hospitality) Says Co Expect Increase In Net Loss After Tax For Year

Feb 28 (Reuters) - 1957 & Co (Hospitality) Ltd:

* EXPECT AN INCREASE IN NET LOSS AFTER TAX FOR YEAR

* GROUP HAS BEEN AFFECTED GREATLY BY OUTBREAK OF COVID-19 IN HONG KONG SINCE FEBRUARY 2020

* REVENUE OF RESTAURANTS FALLEN SUBSTANTIALLY BY ABOUT 40% IN AGGREGATE IN FEBRUARY 2020

* NOT POSSIBLE, AT THIS STAGE, TO QUANTIFY POTENTIAL IMPACT ON RESULTS FOR 3-MONTH PERIOD ENDING 31 MARCH 2020

* EXPECTED RESULT DUE TO IMPAIRMENT OF PROPERTY, PLANT, EQUIPMENT IN RANGE OF ABOUT HK$10 MILLION TO HK$15 MILLION FOR 2 RESTAURANTS Source text for Eikon: Further company coverage:

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