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Amoi Suffers CNY100 Million Loss In Third Quarter
October 31, 2007 |
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Amoi's third quarter report shows that the company suffered a total loss of CNY109.9 million in the quarter, while in the same period of last year, it made a profit of CNY13 million.
Amoi believes the decrease of net profit in the quarter was mainly the result of the decline of business income, which was reportedly caused by fierce market competition and the struggle among different brands.
Amoi estimates that compared with the first three quarters of the year, its profit level in the fourth quarter will rise with the improvement of the operations, but it still can't make up for the loss for the first three quarters. So the company estimates a net loss of profit for the whole year.
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