Kafelaku Coffee Expects Increased Mid-Year Losses

Li Bao Ge Group Ltd. (HK:1869) has released an update.

Kafelaku Coffee Holding Limited has issued a profit warning, anticipating a substantial increase in losses for the six months ending June 30, 2024, estimated to be between HK$12.0 million to HK$15.0 million. This expected decline is primarily due to a drop in revenue and gross profit margins, reflecting economic challenges in China and Hong Kong. Investors are advised to exercise caution and await the company’s detailed interim results.

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