Yurun Food Group Issues Profits Warning12 March 2013
CHINA - The China Yurun Food Group has issued a profits warning in a statement to shareholders.
The company, pone of the largest meat processing groups in China, said that according to the preliminary draft of the unaudited management accounts of the Group for the year ended 31 December 2012, the results of the Group are expected to record substantial decrease and loss compared with the results for the year 2011.
The company said that as had been disclosed in previous announcements, the effects of certain operation strategies of the Group already implemented cannot be fully reflected, because of "macro-economic uncertainties".
The management said it will continue to adopt a series of measures in order to recover its business development.
The report on the performance of the Group for the year ended 31 December 2012 has been made after the Board’s preliminary review of the draft unaudited management accounts of the Group and information currently available to the Board and is not based on any figure or information, which has been audited or reviewed by the auditors of the Company.
The annual results of the Group for the year 2012 are expected to be announced by end of March. Figures are at present being reviewed and are subject to adjustments.
TheMeatSite News Desk