DeTeam (HKG:0065) Expects Sinking to Red in 2011


DeTeam Company (HKG:0065) has warned that it expects a loss for the year ended 31 December 2011, as compared to a profit recorded for the same period in 2010, mainly attributable to the following factors: a suspension in the excavation of underground coal mine for around three months in 2011 due to the moving of machineries and equipment from section 8101 to section 8102 of the underground coal mine, and the unsatisfactory quality of coal in those layers; and the expiry of tax benefits for wholly-owned subsidiary Changchun Yicheng Packaging Company Limited by the end of 31 December 2010.

The company plans to announce its results for the year ended 31 December 2011 carefully in March.

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