Hong Kong Food Holdings Forecasts Sharp Loss

Hong Kong Food Investment Holdings Limited (HK:0060) has released an update.

Hong Kong Food Investment Holdings Limited has issued a profit warning, anticipating a loss between HK$18 million and HK$22 million for the year ended 31 March 2024, a stark downturn from the previous year’s HK$1 million profit. The expected loss is primarily due to reduced revenue and increased operating losses in its catering business, alongside a fair value adjustment on financial assets. Shareholders and potential investors are urged to exercise caution and await the final annual results due by the end of June 2024.

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