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2009-1-20 09:21:00 a.m. HKT, XFNA
DJ MARKET TALK: Any Kingway Fall Likely Limited Despite Warning
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| 0911 [Dow Jones] Kingway (0124.HK) may fall after company says it expects to post another loss for 2H, with 2008 loss set to widen vs 2007's net loss of HK$23.6 million; 1H08 net loss at HK$24.7 million. Expected 2008 loss due to falling sales, rise in production costs and rise in administrative expenses as result of full-year operation of brewery plants in Xi'an and Chengdu. But declines likely limited at 50-day moving average of 66.3 HK cents as loss already expected, with Thomson Reuters tipping 2008 net loss of HK$51.57 million; expects company to return to profitability in 2009, tipping FY09 net profit at HK$6.06 million. Stock closed down 1.4% at 69.0 HK cents Monday.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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