TCC International Holdings issues profit warning

Byszheng

Updated Fri, 08 Jul 2016 14:10:35 GMT

TCC International Holdings expects to swing to a loss in the first half of 2016, compared to a net profit US$10.5m in the first half of 2015. The Hong Kong-listed cement producer said that the expected loss was due to lower selling prices for its cement products and a foreign-exchange loss from its US Dollar-denominated bank borrowings as a result of a weak Chinese currency. It will release interim results in August 2016.