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PR Newswire
19-04-2016, 11:48 AM
This should be interesting, as likely to report a Q2 2016 loss.
The Board of Directors (the “Board”) of BRC Asia Limited (the “Company”, together with its subsidiaries, the “Group”) deems it appropriate to issue this profit guidance as the Group is expected to report a net loss for the quarter ended 31 March 2016 (“2Q16”).
The loss is attributable to foreign exchange losses on currency forward contracts entered into by the Group to hedge purchase commitments for raw materials which are mainly denominated in US dollars. As the Group does not adopt hedge accounting,
changes to the fair values of foreign currency forward contracts are recognised in profit or loss.
This profit guidance is based on the preliminary review of the unaudited 2Q16 financial results for the Group. Further details of the Group’s financial results will be disclosed when the Group announces its unaudited financial results for 2Q16. In the meantime, shareholders and investors are advised to exercise caution when dealing in the shares of the Company.
Last share buy back was on 7th March of 31,500 shares at 0.625-0.635 share price.
The Board of Directors (the “Board”) of BRC Asia Limited (the “Company”, together with its subsidiaries, the “Group”) deems it appropriate to issue this profit guidance as the Group is expected to report a net loss for the quarter ended 31 March 2016 (“2Q16”).
The loss is attributable to foreign exchange losses on currency forward contracts entered into by the Group to hedge purchase commitments for raw materials which are mainly denominated in US dollars. As the Group does not adopt hedge accounting,
changes to the fair values of foreign currency forward contracts are recognised in profit or loss.
This profit guidance is based on the preliminary review of the unaudited 2Q16 financial results for the Group. Further details of the Group’s financial results will be disclosed when the Group announces its unaudited financial results for 2Q16. In the meantime, shareholders and investors are advised to exercise caution when dealing in the shares of the Company.
Last share buy back was on 7th March of 31,500 shares at 0.625-0.635 share price.
Disclaimer :-
I am not an investment professional.
I encourage you to do your own independent "due diligence" on any idea that I write about, because I could be and probably am wrong.
Nothing written here is an invitation to buy or sell any particular stock.
At most, I am handing out an educated guess as to what the markets may do.
The market will always find a new way to make a fool out of me (and maybe, even you!).
Even the best strategies of the past fail, sometimes spectacularly, when you least expect it.
I am not immune to that, so please understand that any past success of mine will probably be followed by failures
I am not an investment professional.
I encourage you to do your own independent "due diligence" on any idea that I write about, because I could be and probably am wrong.
Nothing written here is an invitation to buy or sell any particular stock.
At most, I am handing out an educated guess as to what the markets may do.
The market will always find a new way to make a fool out of me (and maybe, even you!).
Even the best strategies of the past fail, sometimes spectacularly, when you least expect it.
I am not immune to that, so please understand that any past success of mine will probably be followed by failures