Financial Wire

L&K Engineering Expects Q1 Profit to Soar Up to 223%; Shares Drop 9%

-- L&K Engineering Suzhou (SHA:603929) expects net profit attributable to shareholders for the first quarter to soar between 181% and 223% to 230 million yuan to 265 million yuan, according to a Shanghai bourse filing on Tuesday.

The attributable profit a year earlier was 82 million yuan, or 0.38 yuan per share.

Operating revenue for the same period is expected to jump between 26% and 45% to a range of 1.05 billion yuan and 1.21 billion yuan.

The Chinese engineering services provider's shares slumped 9% during late-morning trade Tuesday.

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