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Fourace Industries Warns of 13% Lower Fiscal-Year Profit

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Fourace Industries Group (HKG:1455) expects profit of around HK$36.4 million for the year ended March 31, down 13% from HK$41.7 million a year prior, according to a Monday Hong Kong bourse filing.

Excluding a one-off and non-recurring net other income due to compensation from the variation of a lease contract, profit is expected to fall 66% to roughly HK$14.4 million from HK$41.7 million in the year-ago period.

The latter forecast is due to a significant reduction in revenue and gross profit margin.

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