Embry Holdings Limited (HK:1388) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Embry Holdings Limited has reported an approximate 8% decrease in sales for April to June 2024 compared to the same period last year, with a net closure of 100 retail outlets. The company also issued a profit warning, anticipating a loss of around HK$85 million for the first half of 2024, a stark contrast to the profit of HK$5.37 million in the corresponding period of 2023. This projected loss is largely due to non-recurring, unrealised, and non-cash items, although the Group remains optimistic about its multi-brand strategy and cost control measures for future performance improvement.
For further insights into HK:1388 stock, check out TipRanks’ Stock Analysis page.