News: GAP Gale Pacific Expects FY Profit Before Tax To Be About 20% Lower Than FY19

Nov 28 (Reuters) - Gale Pacific Ltd (GAP) :

• EXPECTS FULL YEAR PROFIT BEFORE TAX TO BE APPROXIMATELY 20% LOWER THAN FY2019
• EXPECTS FY20 SECOND HALF PROFIT BEFORE TAX TO BE COMPARABLE TO PRIOR CORRESPONDING PERIOD
• EXPECTS FY20 PROFIT BEFORE TAX TO BE ABOUT 20% LOWER THAN FY2019
• EXPECTED RESULT DUE TO IMPACT OF IMPORT TARIFFS IMPOSED BY UNITED STATES ON GOODS MANUFACTURED IN CHINA
• SAYS ANTICIPATES GROWTH IN TOTAL FY20 REVENUE, BUT WILL NOT BE ABLE TO MITIGATE FULL FINANCIAL IMPACT OF TARIFFS
• EXPECTS PROFIT BEFORE TAX FOR HALF YEAR ENDING DEC 31 2019 TO RESULT IN A LOSS OF BETWEEN $1.5 - $1.8 MILLION