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Midas reports a Q1-2013 loss of RMB4.9mn compared to a profit of RMB15.3mn in Q1-2012 on a 12.1% fall in revenue……
By Kevin Scully-Financial Blog  •  May 15, 2013
Midas reports a Q1-2013 loss of RMB4.9mn compared to a profit of RMB15.3mn in Q1-2012 on a 12.1% fall in revenue...... Wednesday, 15 May, 2013  8:44 AM
Posted by Kevin Scully

 Midas released its Q1-2013 results which showed a 12.1% fall in revenue to RMB202.1mn with a net loss of RMB4.9mn from a profit of RMB15.3mn in Q1-2012.

Midas issued a profit warning one/two days before the release of the results which has already seen the share fall from S$0.50 to about S$0.45 yesterday.  

I still like the stock but will confirm my view on Midas after my meeting with management tomorrow because there has been no change in the reasons behind my recommendation which are also reflected in Midas' forward looking statement which can be found in item 10 of their Q1-2013 results which I have reproduced below:

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By Kevin Scully-Financial Blog
Kevin began his working life in the regional and economics division of the Ministry of Foreign Affairs. He then moved to the private sector analyzing equities before venturing out to start NRA Capital. After 25 years of watching stocks and living through financial disarray during the Pan Electric Crisis, the 1987 Crash, the Barings debacle, the Gulf War, Asian financial crisis - what can sub-prime do but add another scar to already bruised wounds. Ever since starting his blog, Kevin has been enthusiastically giving his personal views on the market. He discusses about equities, the market turmoil, and the broad economy.
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