China Partytime Culture Holdings Limited Provides Group Earnings Guidance for the Six Months Ended 30 June 2018
August 17, 2018 at 07:13 am EDT
China Partytime Culture Holdings Limited provided group earnings guidance for the six months ended 30 June 2018. The company is expected to record a substantial decrease in net profit of approximately 45% for the six months ended 30 June 2018 as compared with that for the six months ended 30 June 2017. Such decrease is primarily attributable to (i) a decline in turnover due to a drop in the demand of the group's products in overseas markets; and (ii) a decrease in the gross profit margin resulting from the increase in the costs for certain major raw material and packaging material.