Media Chinese International Limited has issued an earning guidance that, based on the information currently available to the company which it said is subject to further review, the Group is expecting to record an increase in loss for the three months ended 30 June 2023 in the range of approximately US$2 million to US$3 million.
This is compared to the loss attributable to owners of the company of US$0.3 million for the three months ended 30 June 2022, mainly, MCI said this was due to the absence of a one-off government grant and subsidies of US$1.4 million recognised in the corresponding period last year and decrease in turnover from publishing and printing segment for the quarter when compared to the corresponding period last year.
It also added that information contained in this announcement is only based on a preliminary assessment of the Group’s unaudited consolidated management accounts and information currently available to the Board and it has not been reviewed or audited by the company’s auditor or reviewed by the audit committee of the company.
A detailed financial information and performance will be disclosed in the unaudited consolidated financial results announcement for the three months ended 30 June 2023, which is expected to be published in late August 2023.
