Financial Wire

Sun Art Retail Expects Swing to Fiscal-Year Loss; Shares Slip 6%

-- Sun Art Retail (HKG:6808) expects to record an attributable loss of about 300 million yuan to 350 million yuan in the 12 months ended March 31, compared with a profit of 405 million yuan a year earlier, according to an April 17 Hong Kong bourse filing.

Shares of the retail operator were down over 6% in morning trade on Monday.

The expected loss is mainly due to a decline in average items per transaction and selling prices, which led to lower revenue and gross profit, as well as reduced income from retail galleries.

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