Ezion issues profit warning for Q4 and FY2016 results
EZION Holdings Limited issued a profit warning after trading hours on Friday for its fourth quarter ended Dec 31, 2016, as well as its full-year 2016 results.
The group expects to record a net loss for both Q4 2016 and its full-year results due to impairment charges that are yet to be determined.
An assessment on the impairment of its assets has been carried out as the market conditions of the global oil and gas industry remains uncertain.
Details of the group's financial performance for Q4 2016 and FY2016 will be disclosed when the company announces its unaudited consolidated financial results, scheduled to be released on Feb 23.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters
K-Pop agency Hybe’s internal strife wipes out 1.2 trillion won
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
Hong Kong bourse regains favour on hopes of a market revival
Chinese sellers go to TikTok school to reach buyers abroad
Gold prices set for weekly decline ahead of US inflation data