Leader Environmental Technologies Limited provided Group earnings guidance for the first quarter ended March 31, 2013. The harsh winter conditions in the Northern part of China prevented the company from completing the remaining work-in-progress relating to desulphurization and industrial wastewater contracts. In addition, as part of its credit control and risks management, the Group has been selective and only undertakes those projects which offered better payment terms and/or gross profit margin. These accounted mainly the reasons for the decline in revenue and bottom line.
In the light of the above-mentioned reasons, the Group is expected to report a small loss for the first quarter ended 31 March 2013 as compared with the corresponding period in 2012.