Embry Holdings Limited (HK:1388) has released an update.
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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.
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