MAYER HOLDINGS (01116) expects to lose RMB14M in 18-mth X
23/09/2022 09:31
(Infocast News)      MAYER HOLDINGS (01116) expects to record a consolidated loss attributable to owners of the company for a period of 18 months from 1 January 2021 to 30 June 2022 of RMB14 million as compared to a consolidated profit attributable to owners of the company of RMB16 million for the year ended 31 December 2020.

The change from profit to loss was mainly attributable to revenue in sale of steel products increased primarily owing to an increase in domestic sales of steel pipes, steel sheets and other steel products with a lower profit margin; revenue in urban renewal project planning and consulting with a higher profit margin decreased terribly, resulting in gross loss of this segment; and operating expenses increased substantially resulting in a lower profit margin. (WL) 

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