Fairwood Holdings (00052.HK) announced on November 4th that for the six months ended September 30, 2024, the Group's attributable profit to shareholders during this period decreased by 50% to 60% compared to the six months ended September 30, 2023, to approximately HK$36.3 million.
The announcement stated that this decline is mainly attributable to (1) the continued trend of consumption by Hong Kong residents traveling north; (2) the downgrade of consumption in mainland China and Hong Kong; (3) the closure of underperforming stores during the period leading to increased related expenses and impairment provisions compared to the same period last year.
