Huiyuan shares lose fizz on likely loss
By Jin Jing |
August 11, 2009, Tuesday
|
Print Edition
Print Edition
SHARES of China Huiyuan Juice Group Ltd lost 5.1 percent yesterday after it warned of a possible loss in its first-half profit.
The nation's biggest juice maker said it expected a loss for the first six months due to a slump in sales amid uncertainties of its takeover by Coca-Cola Co, according to its statement filed to the Hong Kong Stock Exchange.
The company also attributed the loss to its restructuring initiatives during the same period, when the economic benefits hadn't been reflected yet. But Huiyuan forecast the group's financial performance is expected to improve in the second half of this year after its restructuring measures begin to bear fruit, according to the statement.
Shares of Huiyuan slid to HK$5.62 (73 US cents) yesterday.
"Distributors may have reduced orders during the period as they fear Coca-Cola's takeover of Huiyuan may bring some marketing strategy changes," said Liu Jinhu, an analyst at Guohai Securities Co Ltd.
The nation's biggest juice maker said it expected a loss for the first six months due to a slump in sales amid uncertainties of its takeover by Coca-Cola Co, according to its statement filed to the Hong Kong Stock Exchange.
The company also attributed the loss to its restructuring initiatives during the same period, when the economic benefits hadn't been reflected yet. But Huiyuan forecast the group's financial performance is expected to improve in the second half of this year after its restructuring measures begin to bear fruit, according to the statement.
Shares of Huiyuan slid to HK$5.62 (73 US cents) yesterday.
"Distributors may have reduced orders during the period as they fear Coca-Cola's takeover of Huiyuan may bring some marketing strategy changes," said Liu Jinhu, an analyst at Guohai Securities Co Ltd.
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