Asia
China Tobacco Warns of Up to 15% Lower H1 Profit
China Tobacco International (HK) (HKG:6055) expects a 10% to 15% year-over-year decline in attributable profit for the six months ending June 30, according to a Thursday Hong Kong bourse filing.The tobacco company's revenue is also expected to fall between 25% and 30%.The company attributed the forecast to a lower revenue and gross profit in the tobacco leaf product import wing and a lower revenue from the cigarette export segment.
HKG:6055
