SinoCloud Group issues profit warning

SINOCLOUD Group Limited issued a profit warning, saying that the group is expected to report a higher net loss for FY2016 compared to FY2015 ended Mar 31, 2015.

This higher net loss was mainly attributed to the impairment loss of "certain assets" of the group, it said in a statement dated May 6.

SinoCloud also said that further details of the group's financial performance for FY2016 will be disclosed when the company announces its unaudited financial results on or before May 30, 2016.