Posted by Kevin Scully
On 10 October 2012, I commented about a meeting with the CEO of Midas and how despite the recent 50% rise in the share price the outlook was promising. The share price was S$0.42 then.
The company has just reported its Q3-2012 results which showed a Q3 loss of RMB6.5mn compared to a profit of RMB27.3mn in the same quarter in 2011. The loss and lower profit in 2012 was expected because of the problems facing the China railway sector - read my Blog posting of October 10, 2012.
Result highlights
a) Q3-2012 revenue fell 21.8% to RMB202.7mn while nine month revenue was lower by 24.9% to RMB652....
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