CSE issues profit warning on 4Q11 results

As revenue from its engineering contracts turned out lower than expected for the quarter.

The Board of Directors of CSE Global Limited said in a company statement that it expects the Q4 profit after tax to be around 75% of the profit after tax achieved in Q3 2011.

According to the statement:

In Q4 2011 CSE has been adversely affected by the fact that several of our customers were late in providing approval for our engineering designs which has led to a lower than planned lower revenue and profit contribution from those contracts.

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