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CL Group (Holdings) expects YOY decline in fiscal 2017-2018 profit

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CL Group (Holdings) expects YOY decline in fiscal 2017-2018 profit

CL Group (Holdings) Ltd. expects to post a year-over-year decline in profit and total comprehensive income attributable to the owners for the fiscal year ended March 31.

The company attributed the expected fall in profit to a decrease in placing and underwriting commission of about HK$12.9 million and a fall in net fair value gain of financial asset at fair value through profit or loss of approximately HK$9.3 million.

The forecast was also attributed to an impairment loss on held-to-maturity investments of about HK$10 million and a decline in commission expenses of approximately HK$4 million.

For the fiscal year ended March 31, 2017, CL Group posted profit and total comprehensive income attributable to the owners of HK$42.7 million, or HK$1.94 per share.

The company will report its fiscal full-year earnings results June 21.