Guocang Group (00559) said it expects to record a segment profit on investments in listed securities and segment losses on cable and wires business; copper rods business; and liquor and wine business for the year ended 30 June 2014.
The segment profit of the investments in listed securities was mainly attributable to the gain on disposal of listed securities investments of around HK$114 million. The segment loss of the cable and wires and copper rods businesses was due to the increase in operating costs including but not limited to labor costs and recognition of impairment loss on plant and equipment of around HK$10 million. The impairment loss is one-off item and does not have significant impact on the cashflow and business operations of the Group.
Its annual results announcement is expected to be published on 29 September.
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