LH Group Limited Forecasts H1 2024 Losses

LH Group Limited (HK:1978) has released an update.

LH Group Limited has issued a profit warning indicating an expected loss of no more than HK$30.0 million for the first half of 2024, a significant downturn from the HK$47.6 million profit in the same period last year. The decline is attributed to global economic instability, high-interest rates, a strong Hong Kong dollar impacting local spending, and impairment provisions for some underperforming stores. Despite these challenges, the Group has implemented various strategies to mitigate the impact and maintain business stability.

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