PE-backed China Forestry expects 1H loss
China Forestry Holdings, which counts The Carlyle Group and Partners Group among its investors, has warned that it is expected to post a loss for the first half of 2011. The Hong Kong-listed company said earlier this year that an investigation into alleged accounting irregularities was having a negative impact on business, Reuters reported.
The company reported a net profit of RMB429.3 million ($66.3 million) for the first six months of 2010. However, in January the company said its auditors had identified possible irregularities in the audit...
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