Silver Base Group warns of loss

Partly to blame is the low season in baijiu market.

Based on a preliminary review of the unaudited consolidated management accounts of Silver Base Group Holdings Limited, the board of directors of the company announced that the Group is expected to record a loss for the six months ended 30 September 2012 as compared to a profit for the corresponding period in 2011.

The expected loss of the Group was mainly attributable to a decrease in revenue due to the economic slowdown and low season in baijiu market in China.