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Sincere (00244): FY18 loss rises at least 45%
15 Mar 2019
(Infocast News) The Sincere Company, Limited (00244) expects its loss for the year ended 28 February 2019 to increase by at least 45% on year mainly attributable to: (i) decrease in gross profit of the department store operations due to the unseasonably warm winter and resulting quiet end-of-year sales period; (ii) potential impairment on the group's property, plant and equipment due to the operating losses in department store operations; and (iii) increased net realised losses arising from trading in and unrealised losses as a result of mark to market losses in the group's investment in financial assets through profit and loss.

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