Merrill Lynch lowers Wharf earnings forecast in 2001 & 2002 by 5% and 18%

Merrill Lynch downgraded the per share earnings forecast of Wharf Holdings (0004) in 2001 and 2002 by 5% and 18% to HK$1.13 and HK$1.21 respectively, as a result of the declining financial earnings and decreasing income in property sectors. 

The fund house predicted that its modern cabinet business would weaken in the second half of this year.

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