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Newton Res (01231.HK) is expected to have a decrease in net profit after tax of about 1.4 million US dollars in the middle term.
On August 9th, Grangoodi announced that, based on the preliminary review of the unaudited comprehensive management accounts and currently available other information for the six-month period ending on June 30, 2024, the group is expected to record a decrease in net profit of approximately USD 1.4 million, compared to approximately USD 2.9 million recorded in the six-month period ending on June 30, 2023. The decline in the group's net profit during the period is mainly due to weak demand for high-grade iron ore from the group's customers. Therefore, the group's sales of iron ore decreased compared to the same period last year, while other activities remained stable.
Express News | Newton Resources Ltd - Expected Result Due to Weak Demand for High-Grade Iron Ores by Group's Customers
Express News | Newton Resources Ltd Sees Decrease in Hy Net Profit to US$1.4 Mln
NEWTON RES: PROFIT WARNING
Board of directors meeting of Newton Res (01231.HK) was held on August 22 to approve the mid-term performance.
Newton Res (01231.HK) announced that the board of directors meeting will be held on Thursday, August 22, 2024 to approve the interim performance announcement of the company and its subsidiaries for the six-month period ending on June 30, 2024, and to consider the distribution of interim dividends (if any).
NEWTON RES: Date of Board Meeting
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