Guangnan sees 130 mln hkd loss from bird flu

HONG KONG (AFX-ASIA) - Guangnan (Holdings) Ltd director Chen Lizhong said the company expects it will incur a 130 mln hkd loss as a result of the disruption to its business caused by the current outbreak of bird flu in Hong Kong.

Cited by the Hong Kong Economic Journal, Chen said live chicken imports into to Hong Kong will be suspended for two months.

Chen said the live chicken business accounts for 30 pct of sales at the company's livestock business, which in turn accounts for 60 pct of the company's total sales.

He said the company incurred losses of some 100 mln hkd as a result of the 1997 bird flu outbreak.

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