Fourace Industries Expects Lower Annual Profit

Fourace Industries Group Holdings Limited (HK:1455) has released an update.

Fourace Industries Group Holdings Limited has announced an anticipated drop in profit after tax for the fiscal year ending March 2024, with estimates not exceeding HK$39.0 million compared to the previous year’s HK$64.2 million. The decline is mainly due to reduced sales to key customers impacting gross profit, increased marketing costs for their OBM business, although partially offset by exchange gains. Shareholders and potential investors are cautioned to await the final results to be published by end of June 2024 for a precise financial overview.

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