MTT Group (HKG:2350) expects a net loss of about HK$18 million for the six months ended Sept. 30, compared with a net profit of HK$1.4 million in the corresponding period of the previous year, according to a Friday filing with the Hong Kong bourse.
The company attributed the expected loss to the decreased revenue and gross profit margins in the group's distribution segment and an increase in net impairment loss under the expected credit loss model.
The information technology company plans to publish its interim results later in November.
The company's shares were down almost 4% in the recent trading.
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