Asia
Morimatsu International Holdings Warns of H1 Loss
Morimatsu International Holdings (HKG:2155) expects to report a net loss of about 150 million yuan to 180 million yuan for the six months ended June 30, compared with a profit of 333 million a year earlier.The company attributed the expected loss mainly to weaker revenue from the Middle East, higher logistics and supply-chain costs, project delays and increased credit-loss provisions, as well as lower order prices amid intense competition.
HKG:2155
