15) Internet retail sales in the UK and France will be higher
The Board of Directors of Fone Industries (together with its
subsidiaries) wishes to inform shareholders in the Company, as
well as potential investors, that the consolidated net profit of the
Group for the current quarter is expected to show a significant
decline compared to that for the previous quarter. We attribute
this unprecedented fall to the global economic downturn that
has resulted in a drastic reduction in consumer spending on
telecommunication products – and mobile handsets in par-
ticular. Fone Industries believes that our diverse product
portfolio, respected brand and competitive pricing will enable us
to weather the current economic situation.The information con-
tained in this announcement is a preliminary assessment; full
results for the year will be disclosed in the annual report to be
published in April.
16) The global economy has been in recession for the past two
17) Fone Industries has suffered a nosedive in profits and is
now operating at a loss.
18) Fone Industries’ profits for the current quarter are pre-
dicted to be lower than those of the previous quarter.
19) Fone Industries is paying the price for the poor quality of its
mobile phone handsets.
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