Sanergy Group Logs Wider Attributable Loss in H1 as Revenue Drops

MT Newswires Live09-02

Sanergy Group (HKG:2459) recorded a loss attributable to owners of $14.4 million for the six months ended June 30, wider than $4.2 million logged for the corresponding period last year, a Friday filing with the Hong Kong Exchange said.

Loss per share stood at $0.014 for the reporting period, compared to $0.004 recorded for the year-ago period.

The graphite electrodes manufacturer's revenue for the first half of this year was $32.1 million, lower than $43.7 million booked a year ago. The company attributed the decrease in revenue to a decrease in the average selling price of graphite electrodes during the reviewing period.

The company's shares were down nearly 5% on Monday's close.

Price (HKD): $20.25, Change: $-1.1, Percent Change: -4.93%

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