Delong warns of lower Q1 profit on lower selling prices, higher costs

Fiona Lam

Published Thu, May 2, 2019 · 12:47 AM

CHINESE steelmaker Delong Holdings said on Thursday morning that it expects to report a lower first-quarter net profit for the three months ended March 31, mainly due to a decrease in the average selling prices of products as well as higher cost of sales per tonne.

The profit guidance was issued after a preliminary review of Delong's unaudited results for the first quarter.

The mainboard-listed company will announce its first-quarter financial results on May 8.

Delong shares closed at S$6.11 on Tuesday, up 29 Singapore cents from Monday's close at S$5.82.

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Companies & Markets

Companies & Markets

Delong warns of lower Q1 profit on lower selling prices, higher costs

Fiona Lam

Companies & Markets

UMS Holdings Q1 net profit drops 44% to S$9.8 million

SIA Engineering H2 profit rises 11.5% to S$37.8 million on robust aviation MRO demand

Great Eastern shares jump 39% as OCBC mounts S$1.4 billion privatisation bid at S$25.60 per share

US: Wall St opens higher, focus on comments from Fed officials

Vicom Q1 net profit up 1.3% to S$6.9 million

Sanofi inks US$1.2 billion vaccine licensing deal with Novavax

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