CFM Holdings Issues Profit Guidance for FY2020 Ended 30 June 2020

The Board of Directors of CFM Holdings Limited (the Company, and together with its subsidiaries, collectively the Group) wishes to issue a profit guidance for the full financial year ended 30 June 2020 (FY2020).

Based on the preliminary figures, the Group expects to record a net loss after tax for FY2020 as compared to the profit after tax for the previous corresponding financial year ended 30 June 2019 (FY2019) mainly due to decline in revenue and profit margin. This decline was due to (a) the slowdown in trade and economy caused by the Covid 19 global pandemic; (b) another important customer has delayed manufacturing of their products through us, arising from the current market disruption; and finally (c) an increase in administrative expenses mainly due to higher depreciation charges.

Further details of the Group’s performance will be disclosed when the Company announces its unaudited financial results for FY2020 on or before 28 August 2020.