CEC International Holdings Limited (HK:0759) has released an update.
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CEC International Holdings Limited has issued a profit warning, anticipating a loss after tax of HK$29.0 million to HK$31.0 million for the year ended 30 April 2024, a stark contrast to the prior year’s profit of approximately HK$49.6 million. The anticipated loss is due to factors including decreased retail sales, absence of COVID-19 government subsidies, increased fair value loss on investment properties, and one-off restructuring costs. Shareholders and potential investors are cautioned to consider the preliminary nature of this information, which has not been audited, and to look out for the final annual results announcement due on 24 July 2024.
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