January 28, 2013 / 10:36 AM / 5 years ago

China's GOME warns of net loss for full year 2012

HONG KONG, Jan 28 (Reuters) - GOME Electrical Appliances Holding, China’s second-largest home appliance retail chain operator, said on Monday that it expects to post a net loss for the year ending Dec. 31, 2012.

In a filing to the Hong Kong Exchange after markets closed, GOME cited the loss incurred by the group’s e-commerce business, a drop in the group’s overall sales revenue and an increase in its rental expense as reasons for the net loss.

GOME posted last March a lower-than-expected 6.2 percent fall in 2011 profit to 1.84 billion yuan ($291 million), lagging analyst forecasts of 2.42 billion yuan.

For full statement, here

Reporting by Clement Tan; Editing by Miral Fahmy

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