Precision Tsugami (China) Corporation Limited (01651) said the group is expected to record a decrease of approximately 50% in the profit attributable to the owners of the company for the nine months ended 31 December 2019 as compared to that for the nine months ended 31 December 2018, and that the profit attributable to the owners of the Company for the financial year ending 31 March 2020 may be affected at a similar level as compared to that for the financial year ended 31 March 2019.
The deterioration in financial performance is mainly attributable to the decrease in demand for computerised numerical control high precision machine tools (the CNC high precision machine tools) manufactured by the group because of various macroeconomic uncertainties, including those caused by trade disputes between China and the United States.
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