Libra warns of earnings decline for FY16
LIBRA Group Limited said on Wednesday that it expects to report a decline in earnings for its full year ended Dec 31, 2016.
This is mainly due to lower operating margins as a result of the challenging economic environment, and potential provisions to be made in relation to doubtful receivables from certain external parties.
The profit guidance is based on the preliminary review of the management accounts of the group for fiscal 2016.
Further details of the group's financial performance will be disclosed when it announces its unaudited results for FY2016, which will be no later than March 1.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Nestle sales growth sputters on US slump, vitamin snags
BNP Paribas beats estimates as lower costs offset trading slump
TikTok ultimatum puts US firms in firing line for China response
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race
BHP targets Anglo American in bid valuing miner at US$39 billion
FTSE 100 hits record high on big mining M&A, earnings push