Ming Fai International Holdings Limited (HKG:3828) announced that the net profit of the group for the six months ending 30 June 2012 is expected to decrease significantly as compared to the net profit for the last corresponding period.

The change is mainly attributable to the following reasons: the profit margin has been decreasing which was mainly due to the increasing cost pressure in the PRC; the new business of the group, laundry service business, continues to record losses while it is still at investment stage during the six months ending 30 June 2012; and the operating results of retail business in the PRC “7 Magic” for the first half of 2012 are expected to be lower than that recorded in the last corresponding period.

The interim results announcement of the company for the six months ending 30 June 2012 is expected to be released before the end of August 2012.

Source:chinesestock.org