New World Department Store China Limited Provides Earnings Guidance for the Six Months Ended 31 December 2020
February 05, 2021 at 05:12 am
New World Department Store China Limited provided earnings guidance for the six months ended 31 December 2020. The group expected to record a loss attributable to shareholders of the Company of approximately HKD 200 million for the six months ended 31 December 2020, as compared to a profit attributable to shareholders of the Company of approximately HKD 142 million for the six months ended 31 December 2019. The decrease in the Group's profitability for the six months ended 31 December 2020 is primarily attributable to the recognition of the significant impairment loss on assets, including goodwill for the Group's department store business in the People's Republic of China.