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Yongmao Holdings Expects Low Net Profit for H1 2025

Singapore Business Review ·  Oct 31, 2024 00:16

This is due to higher freight charges from higher rates.

Yongmao Holdings Limited forecasted lower net profits for the first half of 2025 (H1 2025) based on its preliminary assessment of the company's unaudited financial statements.

The company said this is due to higher freight charges from higher rates. Furthermore, Yongmao incurred higher exchange losses and increased financial costs due to higher average borrowings in H1 2025.

However, the company is expected to record a fair value gain on its financial assets which will lead to a higher total comprehensive gain attributable to shareholders.

Yongmao is still finalising its financial statements for H1 2025 and will disclose its financial performance upon completion.

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