Modern Media Holdings Limited Provides Group Earnings Guidance for the Year Ended December 31, 2016
February 15, 2017 at 05:00 am
Modern Media Holdings Limited provided group earnings guidance for the year ended December 31, 2016. The board of directors of the company informed shareholders of the company and potential investors that, after the Board's preliminary review of the latest unaudited consolidated management accounts of the Group for the year ended 31 December 2016 and information currently available to the Board, the profit attributable to owners of the company for the Reporting Period is expected to be in the range of about 10% to 20% of that for the year ended 31 December 2015 (fiscal year 2015: approximately RMB 20.6 million), primarily due to the reduction in the Group's advertising revenue attributable to the continuous weakening local consumption in the luxury and retail segments in the PRC, to which most of the Group's principal advertising clients belong.