HONG KONG: San Miguel clarifies chairman's profit hopes
Shares in San Miguel Brewery Hong Kong have begun trading again after they were suspended pending an announcement yesterday (11 June).
In the announcement the board of directors of San Miguel Brewery Hong Kong said it wanted to clarify certain statements referred to in recent press articles that referred to remarks made by its chairman.
In the statement San Miguel said: "After the annual general meeting held by the company on 10 June, Ramon S. Ang, the chairman of the Company was asked a number of questions by reporters. Various press articles referred to a statement made by Mr Ramon S. Ang, among other things, that the group will achieve profitability within two years.
"The company would like to clarify that the statement does not represent any estimation or forecast made by the company about the profit of the group for any future period."
The release continued: "The statement was made on Mr Ang's personal belief that the group will achieve profitability within two years. Shareholders and the investing public are reminded not to treat such statement as a profit forecast."
Sectors: Beer & cider
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