March 23, 2020 / 9:14 AM / 18 days ago

BRIEF-Honbridge Holdings Says Expects To Record About HK$340 Mln Revenue For Year

March 23 (Reuters) - Honbridge Holdings Ltd:

* EXPECTED TO RECORD ABOUT HK$340 MILLION REVENUE FOR YEAR

* PROFIT ATTRIBUTABLE FOR YEAR EXPECTED TO DECREASE BY MORE THAN 50%

* EXPECTED INCREASE IN REVENUE AS 2019 WAS FIRST FULL YEAR OF OPERATION FOR ZHEJIANG FOREVER NEW ENERGY LITHIUM-ION BATTERY PLANT

* DUE TO IMPACT OF COVID-19 PANDEMIC, BUSINESS OF GROUP IN PRC WAS GENERALLY HALTED IN FEBRUARY

* EXPECTED THAT REVENUE FOR PERIOD ENDED 31 MARCH 2020 WILL BE DECREASED BY MORE THAN 50%

* EXPECTED DECREASE IN PROFIT DUE TO SIGNIFICANT DECREASED IN REVERSAL OF IMPAIRMENT OF EXPLORATION AND EVALUATION ASSETS FOR 2019

* GROUP’S BUSINESS OPERATIONS IN PRC RESTORED GRADUALLY IN MARCH Source text for Eikon: Further company coverage:

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