Guan Chao Holdings Limited (HK:1872) has released an update.
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Guan Chao Holdings Limited reported a significant dip in its half-year financial results for the period ending 30 June 2024, with revenue dropping from S$112,213,000 to S$80,120,000 and net profit falling from S$6,398,000 to S$650,000 compared to the same period in 2023. The company’s earnings per share also decreased from 7.11 Singapore cents to 1.09 Singapore cents. This decline reflects higher costs of sales and reduced other gains, despite a slight increase in other income.
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