Shares of Unitedenergy GP (00467) fell nearly 3% after issuing a profit warning. As of writing, they have fallen by 2.44%, trading at HKD 0.4 with a turnover of HKD 51.9672 million.
According to the Zhītōng Cáijīng APP, shares of Unitedenergy GP (00467) fell nearly 3% after issuing a profit warning. As of writing, they have fallen by 2.44%, trading at HKD 0.4 with a turnover of HKD 51.9672 million.
On the news front, Unitedenergy GP issued a notice stating that based on the preliminary review of the unaudited comprehensive management accounts of the group for the six months ending June 30, 2024, the net surplus for the six months ending June 30, 2024 is expected to decrease by about 35% to 45% compared with the six months ending June 30, 2023 – primarily due to rising production costs in operating areas affected by inflation and an increase in depreciation and amortization due to the expansion of production capacity after the completion of the oil central processing plant at the group's Iraq asset.
