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Playmates Toys Expects Lower Profit for 2024
PLAYMATES TOYS (00869.HK) issues a profit warning: anticipated annual revenue and pre-tax profit are approximately 0.931 billion Hong Kong dollars and 0.178 billion Hong Kong dollars, respectively.
On February 6th, Gelonghui reported that PLAYMATES TOYS (00869.HK) announced an expected group revenue and pre-tax profit for the year ending December 31, 2024, of approximately HKD 0.931 billion and HKD 0.178 billion, respectively, compared to revenue and pre-tax profit of approximately HKD 1.109 billion and HKD 0.261 billion for the year ending December 31, 2023. The decline in profit is mainly due to: (1) lower sales of the "Ninja Turtles" toy series compared to last year, as last year the series benefited from the positive impact of the "Ninja Turtles: Mutant Crisis" animated film; (2) due to tight household spending and Consumer.
Express News | Playmates Toys Ltd - Expected Result Due to Increased Marketing Expenses, Others
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