"Profit Warning" VEEKO INT'L estimates full-year loss to expand to at least 120 million yuan

VEEKO INT'L (01173.HK) issued a profit warning, expecting a loss of between HKD 120 million and HKD 126 million for the fiscal year ending in March, compared to a profit of HKD 40.04 million in the previous year. The anticipated loss is mainly due to a decrease in gross profit resulting from reduced revenue in both the cosmetics and fashion business segments; a decline in the fair value of investment properties by approximately HKD 40.92 million; and an increase in financing costs to HKD 39.78 million