Nine Dragons Paper predicts annual profit drop

Business | 23 Aug 2019 6:37 pm

Nine Dragons Paper (2689) warned that it would record a less-than-50-percent decline in net profit for the year ended June 30, if the exchange losses on operating and financing activities net of tax were excluded.

It was down to a decrease in the selling price of the products and a drop in the profit margin.

In contrast, Nine Dragons reported a net profit of 7.87 billion yuan (HK$8.72 billion) last year, after excluding the exchange losses on operating and financing activities of 20.7 million yuan.

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