 |
|
  |
2008-7-8 11:05:00 a.m. HKT, XFNA
STOCK ALERT - Hong Kong-listed Sunny Optical plunges on profit warning
|
| |
HONG KONG (XFN-ASIA) - Sunny Optical Technology (Group) Co Ltd was sharply
lower after it said its first half to June net profit is expected to decrease
significantly from a year earlier.
The stock was down 0.22 hkd or 16.67 pct at 1.10.
The company said the anticipated decrease in net profit was due to severe
pressure exerted by customers on prices and intense competition in the market
for the lens sets and camera modules of VGA mobile phones.
It also cited yuan appreciation, an increase in labor costs and the effective
tax rate, as well as rising research and development costs.
Sunny Optical recorded net profit of 102.09 mln yuan for the first half of
2007.
(1 usd = 6.9 yuan; 7.8 hkd)
roby.lau@xfn.com
rl/kmq
MMMM |
| |
News Provided by XFNA |
| |
|
| Copyright(C) AASTOCKS.com Limited 2000. All rights reserved |
| |
|
|
|
