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Li Heng issues profit warning; expects to report Q1 loss on weak demand, margins

LI Heng Chemical Fibre Technologies expects to report a first-quarter net loss on May 12 due to weak market demand and squeezed margins, the nylon yarn maker said on Thursday.

The company posted a net profit after tax of 5.3 million yuan (S$1.1 million) in the year-ago quarter ended March 31, 2014.

Li Heng's shares closed flat at 14 Singapore cents on Thursday before the profit warning.