Novo Group warns of loss

No thanks to the decline in the Group’s trading business.

The board of directors of Novo Group Ltd. announced that the Group expects to record a loss in its unaudited consolidated interim results for the six months ended 31 October 2012.

The expected loss is mainly attributable to the decline in the Group’s trading business brought about by the fluctuating raw material prices, stagnating global market conditions, and the unpredictable economic situation due to heightening concerns of sovereign debt crisis in Europe throughout the period under review.

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