Great Group warns of loss

There was weaker demand in Europe.

A profit guidance announcement said that it is expected that Great Group Holdings Ltd and its subsidiaries will report a loss for the Q3 2012 as compared to the corresponding period last year.

This is due to, amongst others, lower revenues and gross margin resulting from weaker demand in Europe and severe competition.

According to the announcement, this is coupled with the impairment of inventories and increase in operating expenses.

The profit guidance is based on a preliminary review of the unaudited financial results of the Group.

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