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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.
REF Holdings (01631.HK) issues profit warning: expected mid-year net profit to decrease by approximately 40% to 50% year-on-year.
REF HOLDINGS (01631.HK) announced on August 8th that, based on the preliminary review of the unaudited comprehensive management accounts for the six months ended June 30, 2024, it is expected that the attributable surplus to owners of the company will decrease by approximately 40% to 50% during the period, while it was about HKD 10.1 million in the same period of the previous year. The expected decrease in surplus is mainly due to the decline in revenue and the increase in credit losses provision for trade receivables. As the company is still implementing the unaudited comprehensive financial performance of the Group during the period.
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