Lorenzo International said it is expected to report a net loss for the six months ended 30 June 2012 compared to a net profit recorded in the six months ended 30 June 2011.
The deterioration in the group’s results was due to a further weakening in global demand resulting in poorer export sales; generally weaker consumer demand for furniture in Malaysia and Taiwan; and a strong Singapore dollar which meant foreign income translated into lower Sing dollar earnings.
Lorenzo said it expects to release its financial results for the six months ended 30 June 2012 on or around 13 August 2012.
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