Europtronic warns of losses

Partly to blame was the weak demand in the electronic components market.

The Directors of Europtronic Group Limited said they deem it appropriate to issue a profit warning statement in respect of the financial results of the company and its subsidiaries for the third quarter ended 30 September 2012.

Europtronic will report a loss for the 3QFY2012 results due mainly to the operational loss due to weak demand in the electronic components market and the provision or write-off of cost of investments in Project Industrial HK Ltd and Shenzhen Project Industrial Ltd which will be undergoing a voluntary liquidation.

The profit warning is based on a preliminary review of the unaudited financial results of the company.