Apple Daily publisher issues profit warning

Next Media, publisher of the Chinese-language Apple Daily, has issued a profit warning nearly a month after the company pulled up stakes in Taiwan.

In a filing with the Hong Kong stock exchange yesterday, Next Media's board of directors said the company was expected to record "a substantial loss" for the six months ended September 30 compared with the same period last year.

The board also said in a separate filing that a syndicate of four banks has agreed to provide a long-term loan facility totalling HK$210 million for subsidiary Apple Daily Printing.

via Business feed http://www.scmp.com/business/companies/article/1081145/apple-daily-publisher-issues-profit-warning