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00052 FAIRWOOD HOLD
RTNominal down8.030 -0.040 (-0.496%)
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09/10/2019 17:51

Fairwood Holdings (00052) sees huge decrease in interim net

[ET Net News Agency, 9 October 2019] Fairwood Holdings Limited (00052) said it is
expected that the group may record a significant decline in the profit attributable to the
shareholders for the six months ended 30 September 2019, as compared with the profit for
the corresponding period last year.
The decline was mainly attributable to (1) the impact on adoption of Hong Kong Financial
Reporting Standard 16, "Leases", which took effect on 1 January 2019 and superseded Hong
Kong Accounting Standard 17, "Leases" and (2) the decline in gross profit margin that was
mainly due to the rising rental and labour costs. (RC)

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