Source: China Daily Author: 07/18/2008
Subject Concerned: Airport
Shenzhen Airport Co said first-half profit probably fell 73 percent from 242.8 million yuan a year earlier because it had to pay compensation after losing a lawsuit.
Shenzhen Airport was ordered by the Guangdong Provincial High Court to pay 192.5 million yuan to Industrial Bank Co to cover the lender's losses over a loan, the group said in May.
The company said on Jul. 17 that it would book a charge of 236.3 million yuan, including interest, related to the lawsuit.
It is set to report first-half earnings on Aug. 20. China's listed companies are required to make an announcement if they expect earnings to rise or fall more than 50 percent in a reporting period.