BNP downgrades Wheelock And 2002 and 2003 profit forecasts

BNP said that as the annual profit of Wheelock And Co. (0020) was only HK$517 mln, far below the forecasted HK$891 mln, which was mainly attributable to the increasing provision of the property provision, the fund house decided to downgrade the profit forecasts of the company in 2002 and 2003 to HK$2.053 bln and HK$2.448 bln. 

Moreover, the fund house maintained the investment rating of Wheelock And Co. at ˇ§lead the marketˇ¨.

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