King’s Flair Expects Significant Profit Drop

King’s Flair International (Holdings) Limited (HK:6822) has released an update.

King’s Flair International (Holdings) Limited has issued a profit warning, announcing an expected substantial decrease in profit of 50% to 60% for the six months ending June 30, 2024, compared to the same period last year. The drop in profits is primarily due to a loss in investment property value and an increase in income tax expenses, influenced by higher withholding taxes from dividends in Mainland China. Investors are cautioned to exercise care when dealing with the company’s shares and are directed to await the official interim results scheduled for release around August 26, 2024.

For further insights into HK:6822 stock, check out TipRanks’ Stock Analysis page.