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HSC Resources Group Anticipates Profit Decline
Hsc resources (01850.HK) issued a profit warning: expected annual comprehensive profit of over 2 million Hong Kong dollars.
HSC Resources (01850.HK) announced on July 26th that the company is expected to record unaudited comprehensive profits of no less than 2.0 million Hong Kong dollars for the year ending April 30, 2024, compared to audited comprehensive profits of approximately 7.4 million Hong Kong dollars for the year ending April 30, 2023. The decrease in unaudited comprehensive profits this year is mainly due to (i) a decrease in gross margin caused by an increase in sales costs; (ii) a decrease in other income caused by a decrease in government subsidies; and (iii) an increase in financial expenses.
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