Ch Tycoon Bev (HKG:0209) Expects Widened Loss for 2011


China Tycoon Beverage (HKG:0209) has warned that it expects a substantial loss for the year ended 31 December 2011 which is higher than that for the year ended 31 December 2010.

Such expected substantial loss is mainly attributable to: impairment losses to be recognised on goodwill and intangible assets of the beverage division; declined gross profit margin of the toys division which was resulted from sluggish sales in the US and Europe markets, increases in raw materials prices and direct labour costs, and provision for slow-moving, obsolete and defective inventories; and unrealised losses on investments in listed equity securities.

The company plans to announce its 2011 results in late March 2012.


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