Lung Cheong International expects lower profit

There was decrease in sales.

The board of directors of Lung Cheong International Holdings Limited announced that based on the preliminary review of the unaudited consolidated management accounts of the Group, the Group is expected to record a significant decrease in profit for the six months ended 30 September 2012 as compared to the profit recorded by the Group for the six months ended 30 September 2011.

The announcement said that based on the relevant information currently available to the company, decline in consolidated profit was primarily attributable to the fact that there was a one-off gain on disposal of the company’s subsidiaries for the six months ended 30 September 2011 which did not occur for the same period in this year and the decrease in sales of the Group for the current period.