Willas-Array Electronics Limited Provides Group Earnings Guidance for the Nine Months Ended December 31, 2019
January 02, 2020 at 04:31 am EST
Willas-Array Electronics (Holdings) Limited provided group earnings guidance for the nine months ended December 31, 2019. The company expected that the group is likely to record a consolidated net loss for the nine months ended December 31, 2019 as compared to a consolidated net profit for the nine months ended December 31, 2018. The expected consolidated net loss to the Group is mainly attributable to: (i) the decline in sales revenue of the Group as a result of the continuing US-China trade tensions that have dampened consumer sentiment; (ii) stock provision made for the slow-moving inventories due to slowdown of market demand; and (iii) an exchange loss arising from the depreciation of the Renminbi.