"Profit Warning" GLOBAL CORN GP expects to turn a loss of up to 85 million yuan in half a year

GLOBAL CORN GP (03889.HK) issued a profit warning, expecting a loss of between HKD 65 million and HKD 85 million for the six months ending in June, compared to a profit of HKD 165 million in the same period last year. The shift from profit to loss is mainly due to one-time gains of approximately HKD 222 million recognized in the same period last year from debt restructuring and the sale of subsidiaries