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REF HOLDINGS: INTERIM REPORT 2024
REF Holdings' H1 Profit Falls on Lower Revenue
REF Holdings Reports Lower Interim Profits
Ref Holdings (01631.HK) reported a 47.4% decrease in net profit to HKD 5.3 million for the first half of the year.
REF HOLDINGS (01631.HK) announced on August 20th that in the first half of 2024, the group recorded a revenue of HKD 63.2 million, a 16.3% decrease from the previous period. The company's owner's earnings decreased by 47.4% to HKD 5.3 million from the previous period. Earnings per share were 2.07 HK cents. Sustainable development is an important part of the company's business operations. During this period, the company continued to closely cooperate with business partners to protect the environment and support the community where the company operates. Over the years, the company has launched various sustainable operating and environmental protection measures, including reducing paper and energy consumption to strengthen the eco-friendly concept.
REF HOLDINGS: INTERIM RESULTS ANNOUNCEMENTFOR THE SIX MONTHS ENDED 30 JUNE 2024
REF HOLDINGS issues profit warning, expecting a year-on-year decrease of approximately 40% to 50% in the interim net profit attributable to shareholders.
REF HOLDINGS (01631) has announced that the expected net profit attributable to owners of the company for the six months ended June 30, 2024 is expected to decrease by about 40% to 50%, compared to approximately HKD10.1 million for the same period last year. The expected decrease in net profit is mainly due to the decrease in revenue and the increase in the provision for credit losses for the expected trade receivables.
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