China Starch Holdings Limited (HK:3838) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
China Starch Holdings Limited has issued a positive profit alert, expecting a significant turnaround with a profit before taxation of approximately RMB350 million for the first half of 2024, contrasting sharply with a loss in the same period of 2023. This encouraging financial forecast is attributed to improved market sentiment for their major products, increased production and sales of lysine following expansion, and lower corn kernel prices. However, the company maintains a cautious outlook for the latter half of the year and advises shareholders and investors to exercise caution.
For further insights into HK:3838 stock, check out TipRanks’ Stock Analysis page.