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BRIEF-Modern Media sees FY net profit in range of about 10-20 pct of last year's net profit
February 15, 2017 / 11:05 AM / 9 months ago

BRIEF-Modern Media sees FY net profit in range of about 10-20 pct of last year's net profit

Feb 15 (Reuters) - Modern Media Holdings Ltd

* For year ended 31 Dec 2016 profit attributable to owners of co is expected to be in range of about 10% to 20% of that for year ended 31 Dec 2015

* Expected result due to reduction in advertising revenue attributable to continuous weakening local consumption in luxury and retail segments in PRC

* Group formulated a series of cost control measures for implementation in second half of FY2016 including reduction of headcount

* Financial performance for second half of FY2016 improved to a significant extent as compared to that of six months ended 30 June 2016 Source text for Eikon: Further company coverage:

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