Sandmartin International Holdings Limited Provides Earnings Guidance for the Six Months Ended 30 June 2017
August 18, 2017 at 07:29 pm IST
Sandmartin International Holdings Limited provided earnings guidance for the six months ended 30 June 2017. For the period, the Group is expected to record a significant net loss as opposed to a net profit for the corresponding period in 2016. Such net loss was mainly due to (i) net loss from My HD Media FZ-LLC which has become a 51% owned subsidiary of the Company since 5 July 2016; (ii) increase in interest expenses due to increase in loan
borrowings to support the Group's business operation as a result of the delay in the completion of the open offer of the Company; and (iii) additional legal and professional fees incurred during the period.