-- Electro-mechanical component firm Johnson Electric (HKG:0179) expects a 21% to 25% decline in attributable profit for the year ended March 31 to between $207 million and $197 million from a net profit of $263 million a year prior, according to a Tuesday filing with the Hong Kong bourse.
The company attributed the forecast to higher selling and administrative staff costs, foreign currency impacts on operating expenses, provisions for claims and compensation, the recognition of a non-cash impairment of intangible assets, and an adverse change in the fair value of certain investments.