The Buzz | Future Bright expects profit nosedive

Future Bright Holdings Ltd stated yesterday that it expects to revert to a loss for the full year of 2015, following last year’s profits of HKD168.8 million. The Hong Kong-listed company attributed the loss to reduced gains from an investment property in Macau and an impairment loss of HKD30.5 million due to the closure of 19 food court counters this year.
The Future Bright Group operates in two primary sectors; property investment and the sales of food and beverage, the latter of which is primarily sold in Macau and mainland China. The weak performance from its food souvenir business, and the three restaurants and a food court in Zhuhai also contributed to the expected full-year net loss, the company added. The company has recorded an unaudited loss of HKD29.8 million over the first nine months of 2015.