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China Foods says net profit loss in H1, sees full year loss

Zoom in font  Zoom out font Published: 2013-08-05  Origin: Reuters  Views: 23
Core Tip: China Foods Ltd on Sunday said it made a net loss in the first half of 2013, compared to a profit a year ago, blaming unfavourable trading conditions and competition. It said it expected to post a loss for the full year.
The food and wine distributor, which is backed by China's state-owned COFCO Corporation, is due to announce its first half results before the end of August, it said in a filing to the Hong Kong bourse.

In June, China Foods said it made a net loss in the first four months of 2013, compared to a profit in the same period a year ago, led by a fall in sales of mid-range and high-end wines due to government restrictions on entertainment and hospitality, and a drop in its food business due to strong competition.

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