Summary by Moomoo AI
VITA MILK INTERNATIONAL GROUP LIMITED (“VITA MILK INTERNATIONAL”) ISSUED A PROFIT WARNING ON 17 MAY 2024, EXPECTING A SIGNIFICANT INCREASE IN SHAREHOLDERS' EARNINGS FOR THE FISCAL YEAR ENDED 31 MARCH 2024, FROM HK$6 MILLION TO HK$2 BILLION, AN INCREASE FROM THE PREVIOUS FISCAL YEAR. About 132% to 176%. This growth was mainly driven by a significant increase in operating profit from the Mainland China business, including improved sales performance and effective management costs, and the Hong Kong business experienced significant growth in sales growth and cost controls in the context of ungovernment subsidies. However, the Australian and New Zealand businesses are expected to record operating losses. The profit forecast is based on the Board's preliminary assessment of the unaudited consolidated management accounts and will announce the annual results announcement by the end of June 2024. The Company reminds shareholders and potential investors to exercise caution when trading shares.