Tuesday, September 25, 2012

Rotary (profit warning)

Rotary: profit warning for 3Q12. Expects loss for FY12, mainly due to the SATORP project in Saudi Arabia. As mentioned in 1H12, the group exp problems at the tail end of the construction phase, which resulted in the recognition of additional cost that significantly impacted the gross margin. Cost has further escalated in the current quarter. Co will be able to provide more details in its 3Q12 financials in Nov ’12.

No comments:

Post a Comment