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China Modern Dairy Forecasts H1 2024 Net Loss

China Modern Dairy Forecasts H1 2024 Net Loss

China Modern Dairy Holdings Ltd. (HK:1117) has released an update.

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China Modern Dairy Holdings Ltd. anticipates a net loss of RMB 180 million to RMB 240 million for the first half of 2024, contrasting with a net profit in the same period the previous year. Despite the expected loss, the company projects a significant increase in cash EBITDA, indicating resilience in a tough market. The loss is attributed to strategic adjustments in herd size and lower market prices for eliminated cows, while cost-saving measures and efficiency improvements are being implemented to bolster future development.

For further insights into HK:1117 stock, check out TipRanks’ Stock Analysis page.

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