<Profit Warning>AEON STORES (00984) expects interim NP to plunge

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AEON STORES (00984) expects interim NP to plunge

2012-07-31 06:56:29

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AEON STORES (00984) expected to record a significant decrease in its net profit for the six months ended 30 June 2012 as compared to the six months ended 30 June 2011. Based on the information currently available, the decrease in profit is expected to be mainly attributable to a decrease of the fair value gain arising from Wilson Logistic Centre, the Group’s investment property in the six months ended 30 June 2012 as compared to the corresponding period last year; an increase in pre-operating expenses incurred for new store openings; an increase in impairment loss recognized in respect of the Group’s property plant and equipment and a decrease in the Group’s operating results as the increase in operating revenue has been less than the increase in the operating expenses. (y)

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