Pou Sheng International, the distribution and retail subsidiary of Yue Yuen that issued a first-quarter profit warning ten days ago, yesterday reported a constant currency sales decline in April of 38.2 percent to RMB 1,205,473,000 (€170.3m) from RMB 1,949,603,000. For the four months ended April 30, Pou Sheng’s consolidated operating revenue was down 27.8 percent to RMB 6,686,027,000 (€944.1m) from RMB 9,256,419,000. In its first-quarter profit warning on April 29, the company forecasted a 70 percent drop in first-quarter net profit to about RMB 108 million (€15.5m) and a 25 percent decline in consolidated revenues to approximately RMB 5,481 million (€788.6m) for the three months ended March 31.

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