BRIEF-Chervon Holdings Sees FY Net Profit $110 Million To $120 Million

Reuters

17 Jan

BRIEF-Chervon Holdings Sees FY Net Profit $110 Million To $120 Million

Jan 16 (Reuters) - Chervon Holdings Ltd 2285.HK:

SEES NET PROFIT US$110 MILLION TO US$120 MILLION FOR YEAR
EXPECTED RESULT DUE TO INCREASE IN REVENUE BY 25% TO 30% IN FY, OTHERS
UNIT PLANS TO CLOSE PRODUCTION AT ITS STEINHEIM FACILITY IN GERMANY BY END OF 2025
PRODUCTION FACILITY WILL BE RELOCATED TO CHINA
REPOSITIONING OF STEINHEIM FACILITY IS EXPECTED TO RESULT IN COST SAVINGS OF US$10 MILLION PER YEAR

Further company coverage: 2285.HK

((Reuters.Briefs@thomsonreuters.com;;))

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