New Sparkle Roll International Group (HKG:0970) expects a loss attributable to owners of about HK$570 million for the six months ended Sept. 30, compared with HK$52 million a year ago.
The automobile distributor attributed the downbeat forecast to lower revenue and gross profit, driven by weak market sentiment and competition in the automotive industry.
The company also cited an impairment on property, plant, and equipment in its auto dealership business of HK$329 million, plus an impairment in other intangible assets of HK$90 million.
New Sparkle Roll plans to publish its interim results by the end of November, according to a Monday filing with the Hong Kong bourse.
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