PSE suspends trading of 2GO shares

ABS-CBN News

Posted at Jul 10 2017 06:27 PM

MANILA - MANILA - The Philippine Stock Exchange said it suspended trading of 2GO shares on Monday after the logistics firm submitted revised financial results. 

The PSE said 2GO shares will not resume trading until the company submits more information on why it restated results for 2015, 2016 and the first quarter of 2017.

The company also replaced its chief financial officer last Friday. 

The company restated its 2015 net income at P109 million from the original report of P1.08 billion.

It said 2016 net income was P344 million, not P1.34 billion. It said it posted a P264.8-million net loss in the first quarter of 2017, and not a profit of P267.5 million.