Termbray Industries International Limited Announces Earnings Guidance for the Six Months Ended 30 September 2020
November 06, 2020 at 04:42 am EST
Termbray Industries International (Holdings) Limited announced earnings guidance for the six months ended 30 September 2020. For the period, the company expects its results will reduce by more than 50%, as compared to a loss of approximately HKD 22 million for the corresponding period in 2019. The reduction in loss is primarily due to the net effect of the recognition of: (1) a fair value gain of approximately HKD 3 million on an investment property; (2) foreign exchange gain arising from the revaluation of the Renminbi currency by approximately 5% during the period; and (3) professional fees and expenses of approximately HKD 17 million incurred during the period in relation to the acquisition of aEasy Credit Investment Limited and its subsidiaries.