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2020-07-13 16:53:47
LION ROCK GROUP (01127) expects 1H profit down 55%

(Infocast News) Lion Rock Group Limited (01127) announced that itsthe turnover for the six months ended 30 June 2020 decreased by 25% as compared to the same period last year.

The group is expected to record an 55% decrease in net profit after taxation because the fixed direct and indirect costs are difficult to alter in the short term.

The expected decrease in turnover is due to the outbreak of the Coronavirus Disease 2019 (COVID19) since early this year. Some of the group’s overseas customers have cut back on their printing orders due to the macroeconomic uncertainty.

(WL)