Summary by Moomoo AI
IH Retail Limited ("IH Retail") issued a profit warning, predicting a decrease of about 32% to 38% in profit for the fiscal year ending on April 30, 2024 compared to the same period last year. The adjusted profit attributable to equity holders of the company was about HKD 0.1496 billion for the same period last year, excluding subsidies from the Hong Kong government's "Employment Support Scheme." The decline is mainly due to a decrease in revenue of about 4.9%, affected by the higher base effect of demand for anti-epidemic supplies during the pandemic, as well as increased human resource and rental costs after the end of rental concessions. The company has taken measures such as cost control and rental negotiations, and made strategic investments...Show More
