September 24, 2012 / 11:09 AM / 5 years ago

Hanfeng Evergreen posts loss on impairment charge

Sept 24 (Reuters) - Chinese fertilizer maker Hanfeng Evergreen Inc reported a fourth-quarter loss primarily due to a C$10.1 million impairment charge on property and equipment.

The company lost C$2.3 million, or 4 Canadian cents per share, for the April-June period, compared with a profit of C$2.5 million, or 4 Canadian cents per share, a year earlier.

On an adjusted basis, the company earned 10 Canadian cents per share.

Sales rose 72 percent to C$92.2 million.

Shares of the company closed at C$1.74 on Friday on the Toronto Stock Exchange.

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