IPI warns of profit decrease

Posted on Aug 24 2018

Imperial Pacific International Holdings Ltd. filed a profit warning announcement yesterday at the Hong Kong Stock Exchange, where the company told shareholders that it expects a decrease in its earnings that ended June of this year.

“The board wishes to inform shareholders and potential investors that, based on the information currently available to the board, the group is expected to record a substantial decrease in profit for the six months ended 30 June 2018, as compared with the profit for the corresponding period in 2017,” said IPI Holdings Ltd. executive director Teng Sio I in the filing.

IPI Holdings is the parent company of Imperial Pacific International (CNMI) LLC, which is one of the subsidiaries of the Hong Kong-based Chinese investment holding company.

KSPN News in the Marianas posted the profit warning on its website.

IPI Holdings’ stock price dropped by 0.005 from 0.077 to 0.072 in mid-afternoon trading at the SEHK.

Jon Perez | Reporter

Jon Perez began his writing career as a sports reporter in the Philippines where he has covered local and international events. He became a news writer when he joined media network ABS-CBN. He joined the weekly DAWN, University of the East’s student newspaper, while in college.

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