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2020-07-29 10:41:02
APAC RESOURCES (01104) sees to swing to loss in FY20

(Infocast News) APAC Resources Limited (01104) announced that the annual results of the group for the year ended 30 June 2020 are expected to record a loss attributable to the shareholders between HK$350 million to HK$500 million as compared to the profit attributable to the shareholders of HK$608 million for the year ended 30 June 2019.

The loss attributable to the shareholders for the 2020 year is mainly attributable to an expected provision for impairment loss on the carrying value of one of the group’s principal associates comparing to a reversal of impairment loss of HK$656 million in the 2019 year.

(WL)