February 11, 2020 / 3:29 PM / 14 days ago

BRIEF-Cathay International Says Provides Trading Update In The Context Of Coronavirus Outbreak

Feb 11 (Reuters) - Cathay International Holdings Ltd :

* HOTEL BUSINESS IN SHENZHEN IS SHOWING A MARKED REDUCTION IN OCCUPANCY AND BOOKINGS IN SHORT TERM

* AT PRESENT PRODUCTION AT ALL OF PLANTS IS EITHER ON HOLD OR PREPARING TO GRADUALLY RESUME PRODUCTION WITHIN NEXT 7-10 DAYS

* THERE IS RISK RESTRICTIONS, IF PROLONGED, MAY LIMIT PRODUCTION, SALES WHICH MAY HAVE ADVERSE IMPACT ON OUR RESULTS FOR 2020

* REDUCTION IN OCCUPANCY IN SHORT TERM WILL HAVE A MATERIAL IMPACT ON HOTEL’S FINANCIAL PERFORMANCE

* AT THIS STAGE TOO EARLY TO GAUGE WHETHER THERE WILL BE IMPACT FROM CORONAVIRUS OUTBREAK ON GROUP’S OPERATIONS FOR 2020

* REDUCTION IN OCCUPANCY, BOOKINGS FOR SHENZHEN HOTEL BUSINESS DUE TO EXTENDED CHINESE NEW YEAR BREAK, CHINESE TRAVEL RESTRICTIONS Source text for Eikon: Further company coverage:

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