Town Health International Investment warns of profit loss

Blame it on unanticipated losses in fair value.

According to an HKEx release, the board of directors of the Company announced that the Group is expected to record a substantial loss for the year ended 31 December 2012 as compared with the profit recorded for the year ended 31 December 2011. 

The Board wishes to emphasize that such loss is mainly attributable to unrealized losses arising on change in fair value of the Group’s held-for-trading investments, which is non-cash in nature and will not have any cash flow burden to the Group.

As the Company is in the process of finalizing the annual results of the Group for the Year, the information contained in this announcement is only based on the preliminary assessment by the Company’s management of the unaudited management accounts of the Group for the Year and currently available information, and is not based on any figures or information audited or reviewed by the Company’s auditors.

Shareholders and potential investors are advised to read carefully the annual results announcement of the Group for the Year, which is expected to be announced on or around 22 March 2013.