March 3, 2020 / 11:44 AM / a month ago

BRIEF-Li Bao GE Group Sees Loss Attributable Of Not Less Than Hk$55 Mln For Year

March 3 (Reuters) - Li Bao Ge Group Ltd:

* SEES LOSS ATTRIBUTABLE OF NOT LESS THAN HK$55 MILLION FOR YEAR

* EXPECTED RESULT DUE TO OVERALL DECREASE IN REVENUE OF GROUP’S RESTAURANTS

* EXPECTED TO RECORD A LOSS ATTRIBUTABLE OF NOT LESS THAN HK$55 MILLION FOR YEAR VERSUS PROFIT ATTRIBUTABLE OF ABOUT HK$2.3 MILLION

* CEASED OPERATION OF SHEUNG WAN RESTAURANT & BEIJING HOUSE RESTAURANT IN HONG KONG IN FEB 2020

* EXPECTS FINANCIAL PERFORMANCE IN H1 OF 2020 WILL BE SIGNIFICANTLY DETERIORATED AS COMPARED TO SAME PERIOD IN 2019

* GROUP HAS BEEN SHORTENING OPERATION HOURS OF ITS RESTAURANTS IN HONG KONG DUE TO CORONAVIRUS EPIDEMIC

* GROUP’S RESTAURANTS, TEA HOUSES LOCATED IN SHENZHEN, CHINA, SUSPENDED OPERATION SINCE LATE JAN & ARE YET TO RESUME OPERATION Source text for Eikon: Further company coverage:

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